Celer Network Price Analysis: RSI Divergence Could Drive CELR Price to $0.10

  • Celer Network price is eyeing a wide range between the support and resistance levels of $0.010 and $0.025.
  • The market cap of the CELR token soared above $131 million, up 13% in the past 24 hours.
  • Celer network price is up 10% at 0.0000008751 satoshis tied to the bitcoin pair.

The Celer Network token has been in a limited market for over 40 days now. CELR price is trading between the support and resistance levels of $0.010 and $0.025. during the consolidation phase.

Last night, CELR bulls were too aggressive for a bullish Altcoin rally, but they failed to manage the coin’s price above the resistance zone (red box). The wide horizontal range remains to be broken. But it looks like the bulls will be able to handle CELR price above the resistance zone.

During a trend reversal, speculator CELR saw the Dragonfly Doji candle last week. As a result, the bulls have gained 34% this week.

Meanwhile, at the time of writing, the Celer network is trading at $0.0188. However, the price action of the CELER token appears to be weak during the intraday trading session. Additionally, the Celer Network price belonging to the bitcoin pair is up 10% to 0.0000008751 satoshis.

The market capitalization of the CELR token has increased by 13% in the past 24 hours to over $131 million, amid a limited market. Meanwhile, CELR speculators witnessed the highest volatility of the past month last night, leading to an almost 379% increase in trading volume over the past 24 hours.

CELR price is just below 50 EMA

CELR buyers are managing costs well above the 20-day exponential moving average as a support level, but they are struggling to approach 50 EMA on the daily price scale.

And the daily RSI indicator is heading towards the overbought zone after 45 trading sessions.

Conclusion

The CELR token is trading inside yesterday’s price candle, receiving a bullish rejection on the 50-day exponential moving average. Bulls can see the weekly price below the 50 EMA before a strong bullish rally.

Resistance level – $0.030 and $0.100

Support level – $0.012 and $0.010

Disclaimer

The views and opinions expressed by the author, or anyone named in this article, are for informational purposes only, and they do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.