CEL Technical Analysis: Price to Surpass the Fibonacci Pivot Point of $6.37

Celsius is a cost-efficient blockchain network with zero withdrawal fees, origination fees, and low-cost loans. Users can higher yields on their crypto holdings by transacting on the Celsius network. It fosters price stability, financial inclusion, and wealth creation with digital assets. CEL is the native stablecoin of this ecosystem. The following CEL technical analysis will predict the price for the next two days:

Past Performance

On May 13, 2021, CEL started trading at $6.95. On May 19, 2021, CEL closed at $6.80. Thus, in the past week, the CEL price has decreased by roughly 2%. In the last 24 hours, CEL has traded between $5.50-$6.81.

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Day-Ahead and Tomorrow

Currently, CEL is trading at $5.90. The price has decreased from the day’s opening price of $6.80. Thus, the market seems to be bearish.

The MACD and signal lines have turned positive. Moreover, a bullish crossover by the MACD line over the signal line has occurred. Thus, the overall market momentum is bullish. Hence, we can expect the price to start rising.

Currently, the RSI indicator is at 61%. It faced rejection at 54% and rose to the current level. Thus, buying pressures are higher than selling pressures. In other words, like the MACD oscillator, the RSI indicator is also showing bullish signals.

The A/D indicator has started rising steadily. Thus, we can expect the whale accumulations to overtake the whale distributions in some time. In short, the A/D indicator is giving further credence to the price rise indicated by the other oscillators.

CEL Technical Analysis

Currently, the price is above the first Fibonacci pivot support level of $5.87. We can expect the price to surpass the Fibonacci pivot point of $6.37 in some time.

Presently, the price has tested and fallen below the 23.6% FIB retracement level of $5.81. If the price retests and breaks out of this level in some time, then probably the bulls have gained strength. In that case, we can expect the price uptrend to continue today and tomorrow.