- Celsius Token registered an amazing rally over the past few weeks.
- Buyers hold the CEL token price above the upward trend line in each time frame window.
- The price of Celcius token pairing with Ethereum pair is up 14.4% at 0.0007492 ETH.
The fall of 2022 was a scary time for crypto investors, which have been averaging the price from its peak; On the other hand, it was a great opportunity for many new investors and traders. Meanwhile, the Celsius token has seen a sharp rise over the past few days, rising almost 900% from its 90-day low so far.
The CEL token follows the orders of the buyers, although the market is also actively bearish; Therefore, the acceleration appears to be slow. In fact, the bears barely manage to keep the altcoin price below the $1.5 mark-resistance area.
In terms of the 4-hour chart, buyers buy the CEL Token in each minor dip. Therefore, the price action of altcoin observes above the upwards trendline (above the chart). Speculators may see a pump near this support level until market leader Bitcoin does not give any massive drop.
At the time of writing, the CEL token is trading at $1.2 mark above the green signal line of the MA ADX indicator. Although, a retest of this upwards trendline is likely ahead. The pair price of the Celcius token and the Ethereum pair is also high by 14.4% at 0.0007492 ETH.
Buyers Struggle Near $1.5 Level
The $1.0 conceptual round level is a buyer’s hedge if the price breaks below the upward trend line.
During the daily price scale, the RSI indicator suggests a bullish trend for the CEL token, and also the MACD indicator is moving bullish into the positive zone.
Conclusion
Today’s hourly price candle is showing a retracement phase. Despite minor volatility, the Celcius coin is in a bullish trend, with buyers forming a strong pumping zone near the ascending trend line.
Resistance level- $1.5 and $2.0
Support level- $1.0 and $0.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
