Celsius Price Analysis: CEL Recovering Inside an Interesting Pattern, despite Bitcoin Remain below $20000

• Celsius price is surging over the daily price chart and has gained around 15% in the last 24-hour period.
• CEL crypto has recovered above 20 EMA and is trying to sustain below 50, 100 and 200-days Daily Moving Average.
• The pair of CEL/BTC is at 0.00004496 BTC with an intraday gain of 14.62%.

Celsius coin is trading with strong uptrend momentum over the daily price chart without being affected by the fact that BTC, the greatest dominator, still stands below the $20000 psychological level. The CEL coin is rising inside the symmetrical triangle pattern over the daily price chart. The token has gained around 15% of its market cap in the last 24-hour period. CEL bulls are trying to accumulate themselves to let the token register its breakout from the symmetrical triangle pattern. However, due to the ongoing circumstances of bear market CEL bears may try to pull the token back below 20 EMA.

Celsius price is presently approximated at $0.86 and has gained around 15% of its market capitalization in the last 24-hour period. Trading volume has increased by 28% in the intraday trading session. Thi shows that buyers are still getting involved in the trade but bears may interrupt any time. Volume to market cap ratio is 0.1245.

CEL coin price is trying to attract a significant number of buyers to register the token’s breakout from the symmetrical triangle pattern. The token must maintain its uptrend momentum. However, it looks like CEL price is facing short selling pressure as it is under correction phase over the daily price chart. The red doji candle signifies the sellers are trying to accumulate for a trend reversal. Nevertheless, volume change is below average and needs to grow in favor of buyers for CEL to register its breakout. 

Will CEL break out Successfully?

CEL coin price is trying to maintain its uptrend momentum over the daily price chart. CEL must maintain its uptrend momentum and should avoid being caught in the short-sellers’ clutch. Technical indicators suggest the uptrend momentum of CEL coin and the short selling may not affect the current momentum of the coin. 

MACD exhibits the bullish momentum of CEL coin. The MACD line is ahead of the signal line after a positive crossover and also it is approaching towards the positive zone. Stoch-RSI showcases the uptrend momentum of CEL coin. Stoch-RSI showcases CEL is registering its return from the oversold territory exhibiting its uptrend momentum.

Conclusion 

Celsius coin is trading with strong uptrend momentum over the daily price chart without being affected by the fact that BTC, the greatest dominator, still stands below the $20000 psychological level. The CEL coin is rising inside the symmetrical triangle pattern over the daily price chart. The token has gained around 15% of its market cap in the last 24-hour period. The red doji candle signifies the sellers are trying to accumulate for a trend reversal. Nevertheless, volume change is below average and needs to grow in favor of buyers for CEL to register its breakout. Technical indicators suggest the uptrend momentum of CEL coin and the short selling may not affect the current momentum of the coin. 

Technical Levels

Support Levels: $0.70 and $0.60 

Resistance Levels: $1.00 and $1.50

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.