In the new technical analysis of CEL, we will find out about the expected trends that may set in to influence the price run. Celsius is a blockchain network that provides valuable services like zero transaction costs, instant trades, and fair interest rates. The prime aim of this network is to provide financial freedom to crypto investors. CEL token is the utility token of this ecosystem that enables users to get higher rates of return on crypto investments and lower interest rates on loans.
<h2><b>Past Performance</b></h2>
On April 13, 2021, CEL started <a href="https://www.cryptoknowmics.com/news/cel-technical-analysis-cel-downswing-to-continue-good-time-for-swing-traders/">trading</a> at $7.07. As of April 19, 2021, the closing price of CEL is $4.11. Thus, in the past week, the CEL price has declined by approximately 42%. In the last 24 hours, CEL has traded between $3.85-$4.26.

<img class="alignnone wp-image-194320" src="https://www.cryptoknowmics.com/news/wp-content/uploads/2021/04/CELO-300x182.png" alt="CELO Price Analysis" width="722" height="438" />

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<a href="https://s3.tradingview.com/snapshots/u/u33oSO12.png">https://s3.tradingview.com/snapshots/u/u33oSO12.png</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, CEL is trading at $3.87. The price has steadily decreased from $4.11 since morning. Thus, the market seems bearish.

The <strong>OBV indicator</strong> has fallen steeply. Thus, selling volumes are higher than buying volumes. Hence, we can expect the price to drop further.

The <strong>MACD and signal lines</strong> are negative. Thus, like the OBV indicator, the MACD indicator is also confirming a bearish market momentum. However, a bullish crossover by the MACD line over the signal line has occurred. Moreover, both the lines are very close to the zero line and may turn positive soon. So, a trend reversal may be on the horizon.

Presently, the <strong>RSI indicator</strong> is at 47%. It faced rejection at 33% and rose to the current level. Thus, buying pressures are slowly building. Hence, we can expect the price to rise after some time.
<h2><b>CEL Technical Analysis</b></h2>
As per technical analysis, in a nutshell, the overall market momentum is currently bearish. But, we can expect a trend reversal in some time. Thereafter, the price may start rising.

The price has fallen below the first Fibonacci pivot support level of $3.92. It may fall below the second support level of $3.82 soon. Thus, as of now, the bears look strong.

The price has tested and fallen below the <strong>23.6% FIB retracement level</strong> of $3.95. If it falls below the<strong> 23.6% FIB extension level</strong> of $3.75 in some time, then the bearish trend is strong and expected to continue tomorrow as well.

CEL Technical Analysis - Overall Sentiment Bearish, Expect Reversal Soon

In the technical analysis of CEL. it tested and fell below the 23.6% FIB retracement level of $3.95. If it falls below the 23.6% FIB extension level of $3.75, then the bearish trend is strong and expected to continue tomorrow as well.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

CEL Technical Analysis - Overall Sentiment Bearish, Expect Reversal Soon

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