Celsius Technical Analysis | CEL Stock Analysis for Beginners

Welcome Back to Cryptoknowmics!! 

And today we present to you a technical analysis video on CEL Token!

The Celsius (CEL) platform provides all-in-one banking and financial services for cryptocurrency users.

 

The price of CEL currently is at its Feb month-long resistance level. A total of $12.8M was paid this week as rewards and more than $3.2M was spent in Bitcoins.

RSI is at 67.20%, after taking support at 59.63%. An increase in the selling pressure is suggested.

 

MACD and EMA lines are above the zero range, suggesting a buy. However, a bullish crossover can be seen on the chart. The MACD has overtaken the EMA suggesting high buying pressures on this horizon.

 

OBV broke its downtrend and is moving upward suggesting appreciation in the volume.

However, a slight push in the buying pressure may lead to a price test immediately at $6.75. If the price falls on the chart, it will try to take support at $5.67. 

 

A breakdown from this will highlight the support level at $4.97. Traders can take a short position accordingly.

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