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- The trading volume of the Celer Network crypto is slowly declining.
- The CELR crypto is built on the Ethereum platform.
Celer (CELR) is a protocol for building and using multi-chain dApps with low cost and high speed. It was founded by four PhDs with strong technical backgrounds. It uses smart contracts and the State Guardian Network to enable cross-chain interoperability. CELR is the native token for staking and governance.
The Celer Network crypto has a huge total supply of 10.0 Billion CELR and the same amount of max supply. Moreover, the fully diluted market cap of the crypto is $191.071 Million. The current circulating supply of the crypto is 7.743 Billion CELR.
The trading volume of the crypto has declined by 15.5% in the last 24 hours, resulting in a traded volume of $8.128 Billion. Its volume ranking as per CoinMarketCap is 342nd.
The current market cap dominance of the crypto is 0.006%, resulting in a volume/market cap ratio of 0.1042.
Celer Network Derivatives Analysis
The short liquidation of the CELR crypto was $16.23K in the last 24 hours. Additionally, the derivative trading volume of the crypto has declined by 19%, resulting in $22.34 Million. Despite this, the open interest has increased by 3.4%, resulting in $11.37 Million.
CELR Blockchain Data Analytics
According to the blockchain data, the TVL and the market cap of the crypto have declined over a while. The token volume has also witnessed a consistent decline which does not seem to be a good sign for the crypto.
CELR Crypto Technical Analysis
The CELR crypto price is making a higher high swing pattern on the weekly chart. The price has also broken above the crucial change of character level, leading to an uptrend in the market. Currently, the crypto has formed an inside candle pattern and if the price breaks above this level, it might lead to new highs.
<>CELR/USD Chart by TradingView
The CELR token is following an uptrend and it is trading above the 50-day and the 200-day EMAs. The price has also breached above the rolling VWAP and the EMAs are forming a golden cross pattern on the charts.
The MACD is giving a buy signal as the signal line and the MACD lines are situated above the zero level. The current value of the MACD line is 0.00123 followed by signal line tarding at a level of 0.00097.
Conclusion
The CELR token has a large supply, a low market cap, and a low volume/market cap ratio. The price has formed a higher high pattern and an inside candle on the weekly chart. The indicators are bullish. Therefore, the price of the CELR crypto is following a bullish momentum, which can lead the price to higher levels in the future.
Technical Levels
- Support levels- $0.0110 and $0.0160
- Resistance levels- $0.0240 and $0.02840
Disclaimer
The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
