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Sellers have been dominant in the CELO (CGLD) market for some time now. Consequently, this has caused prices to decline significantly over the past three trading sessions. However, at this point, it appears buyers have suddenly come alive, and with some significant strength. Let’s take a closer look at price action in this market.
CELO Analysis Data:
CGLD value now: $0.704
CGLD market cap: $345,925,443
Celo moving supply: 491, 531, 934
CGLD Supply: 1,000,000,000
CELO Coinmarketcap ranking: #106
Major Price Levels:
Top: $0.704, $0.730, and $0.756
Base: $0.680, $0.660, and $0,640
Celo Presents Moderate Profits in This Session
On the CELO/USD daily market, price movement seems to have rebounded moderately upwards in this ongoing session. And, with this, the price action in this market may be charting a new course toward higher price levels. A green price candle has appeared on this chart, and it has pushed the price towards the Fibonacci resistance level of 38.20 at $0.723. Additionally, the Stochastic RSI has started an upside crossover in the oversold region. Likewise, the MACD indicator is also revealing that downward forces are losing traction. This could be observed as the indicator bars have now started appearing pale red, just when the leading indicator line crossed below the equilibrium level. At this point, we can predict that this market is heading upward.
Celo Price Upside Course Is Gaining More Traction
The CELO/USD 4-hour market has revealed more about price development in this market. Here, technical indicators are giving more positive signs about the ongoing price move. The current price of Celo is above the 9-day EMA line, which signifies that price action has some upside traction. Meanwhile, the RSI has performed an upside crossover, and its lines have progressed sharply upwards. Also, the MACD seems to have started showing that upside forces are gaining momentum. Consequently, from here, it could be predicted that the price in this market may move toward the $0.760 price level.
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