The CELOUSDT daily market has extended its upward retracement today by 4.15% as of the time of writing. Additionally, indications arising from the technical indicators used in studying the market are positively biased. Consequently, this suggests that buyers may still have the momentum to propel the market.
CELO Statistics:
Celo Price: $0.8619
Celo Market Capitalization: $479.27M
CELO Circulating Supply: 550.97M
CELO Total Supply: 1B CELO
Celo CoinMarketCap Rank: 132
CELOUSDT Price Movement Resumes Upside Retracement
Over recent trading sessions, the CELOUSDT market has seen considerable gains of bullish traction that brought its price action through the resistance at the $0.7000 price level. The market soon found support above that threshold and has continued in the upward direction, recording an additional price increase of 4.15% today.
This keeps price activity in this market hugging the uppermost limit of the Bollinger Bands. The latest price candle on the chart is still green, indicating that upside forces are still dominant. Likewise, the Stochastic Relative Strength Index (Stochastic RSI) indicator lines are still rising upwards following the latest bullish crossover above the 60 level of the indicator.
CELO Buyers Seem Aiming at the $0.9000 Threshold Level
The CELOUSDT 4-hour market seems set on rising further. The last price candle here has revealed that upside retracement is getting stronger. The latest price candle has appeared as a green and conspicuous price candle. This has pushed the market further upwards against the uppermost limit of the Bollinger Bands. What’s more, is that no significant downward rejection has occurred due to this.
Also, the Stochastic RSI lines can be seen still rising into the overbought region, suggesting that upside forces are still retaining their general dominance. The leading line of the Stochastic RSI indicator can be seen as slightly deflected from a straight upward path. This hints that traders may still use crypto signals targeting the $0.9000 mark but should ensure necessary protective measures against a downward rejection.
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