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Price action in the CELO/USDT market applied the brakes when it fell between $0.526 and $0.483. As of now, it appears that price action may witness more upside moves in this market. So, let’s jump in.
Celo Statistics
CELO Value Now: $0.511
CELO Market Cap: $257,919,416
Celo Circulating Supply: 505,091,663 CELO
CELO Total Supply: 1,000,000,000
Celo CoinMarketCap Ranking: 113
Major Price Levels:
Top: $0.511, $0.550, and $600
Base: $0.500, $0.450, and $0.400
CELO/USDT Price Set to Take Off Towards the $0.570 Mark
As earlier said, price movement in the CELO/USDT market seems to have ended the downward retracement after it fell between the 9- and 21-day Moving Average curves. Additionally, the last price candle has considerably pushed prices higher towards the 9-day MA line as resistance.
Likewise, the Relative Strength Index (RSI) lines are now at the initial stage of a bullish crossover in the oversold region. This implies that prices may soon rise further upward, as a crossover here will affirm that more bullish momentum is mounting in this market.
CELO/USDT Maintains Upside Optimism
On the 4-hour CELO/USDT market, It could be seen that price action is rising further upwards off the upside-sloping trendline drawn on this market.
Additionally, the last price candle has just risen past the 21-day MA line as well as the 9-day MA line. This further affirms the claim that prices are taking off towards higher levels.
Also, the RSI lines are rising steeply into the overbought region at 87.10 and 71.31 levels, respectively. The behavior of the leading RSI line seems to raise suspicion that the upside momentum is growing stronger, as it diverges further away from the lagging one.
In the meantime, traders can expect the upside correction to continue towards the $0.560 mark.
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