Thursday, December 8, 2022
 

CEL Breaks Above the 9 and 20 EMA Lines After Price Surge

  • CEL’s price continues its positive streak, surging 100 percent in the last day.
  • The latest elevation in price has seen CEL’s price break above the 9 and 20 EMAs.
  • There might be a retracement in CEL’s price as it approaches a resistance level.

The price of Celsius (CEL) has continued its impressive daily streak and has surged even more from the day prior, according to the crypto market tracking website CoinMarketCap.

At the time of writing, the price of CEL is standing at $1.98 after a 12+ percent surge in price over the past 24 hours. CEL was also able to print a daily high at $3.00, with its lowest price for the day sitting at $1.43.

The recent price movement of CEL has also moved up its ranking on CoinMarketCap’s list of the biggest cryptos by market cap. Just yesterday, the ranking of CEL was around 82. Now, CEL is ranked number 77 in terms of market cap. As a result, it is now ranked under Basic Attention Token(BAT) at 76 and above Waves (WAVES) at 78.

Daily chart for CEL/USDT (Source: CoinMarketCap)

On the daily chart for CEL/USDT, the price of CEL has entered into a parabolic move up – breaking past the 9 and 20 Exponential Moving Average (EMA) lines fairly easily.The daily 9 EMA has also crossed bullishly above the 20 EMA line which suggests that the move may continue.

In addition, the RSI line is positioned well above the RSI SMA line and is sloped positively towards overbought territory.

Investors and traders need to be aware of the fact that CEL is approaching a big resistance level at $3.02 which may lead to a retracement in CEL’s price. Should this happen, CEL’s price could drop to anywhere between $2.3 and the current EMA levels at around $1.7. 

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

  • CEL’s price continues its positive streak, surging 100 percent in the last day.
  • The latest elevation in price has seen CEL’s price break above the 9 and 20 EMAs.
  • There might be a retracement in CEL’s price as it approaches a resistance level.

The price of Celsius (CEL) has continued its impressive daily streak and has surged even more from the day prior, according to the crypto market tracking website CoinMarketCap.

At the time of writing, the price of CEL is standing at $1.98 after a 12+ percent surge in price over the past 24 hours. CEL was also able to print a daily high at $3.00, with its lowest price for the day sitting at $1.43.

The recent price movement of CEL has also moved up its ranking on CoinMarketCap’s list of the biggest cryptos by market cap. Just yesterday, the ranking of CEL was around 82. Now, CEL is ranked number 77 in terms of market cap. As a result, it is now ranked under Basic Attention Token(BAT) at 76 and above Waves (WAVES) at 78.

Daily chart for CEL/USDT (Source: CoinMarketCap)

On the daily chart for CEL/USDT, the price of CEL has entered into a parabolic move up – breaking past the 9 and 20 Exponential Moving Average (EMA) lines fairly easily.The daily 9 EMA has also crossed bullishly above the 20 EMA line which suggests that the move may continue.

In addition, the RSI line is positioned well above the RSI SMA line and is sloped positively towards overbought territory.

Investors and traders need to be aware of the fact that CEL is approaching a big resistance level at $3.02 which may lead to a retracement in CEL’s price. Should this happen, CEL’s price could drop to anywhere between $2.3 and the current EMA levels at around $1.7. 

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

 

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