- The price of CEL has risen almost 20% over the past day.
- CEL is currently trading at $1.76 after setting a daily high of $1.88.
- Technical indicators suggest that CEL’s bullish move will continue.
At the time of writing, the price of CEL stands at $1.76 after an eye-opening 24-hour gain of 19.21%. The token was also able to reach a high of $1.88 and set a daily low of $1.40.
In terms of market capitalization, CEL ranks 85th on CoinMarketCap’s list, with a market cap of approximately $419.80 million. As such, CEL finds itself underneath Bitcoin Gold (BTC), with an estimated market cap of $421.16 million, and Fei USD (FEI), with a market cap of $419.14 million.
Perhaps what makes CEL’s recent performance so impressive is that it was able to post gains during a time when most of the crypto prices in the market have printed losses. In fact, all of the top 10 cryptos by market cap have seen their prices drop, with Solana (SOL) leading the slump after its price fell by more than 12% over the past 24 hours.
On the daily chart for CEL/USDT, CEL’s price was able to tap a key resistance level at $2.11 which was established in the first week of August of this year. Shortly after, however, bears stepped in to defend the resistance level – pushing CEL’s price back down again.
The situation is still looking bullish on the daily chart for CEL, and the move may just be starting if technical indicators are taken into account. The first technical indicator that flags bullish is the MACD, with the histogram gradient currently positive at the moment and the MACD line crossing bullish above the MACD signal line.
Next, is the RSI indicator that has just crossed the RSI SMA line and is confidently sloped towards overbought territory – a good bullish flag of things to come.
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