Celer Network (CELR) price rose 57% this week ahead of the upcoming “Ask me Anything” session with its co-founder.
Trading as low as $0.0400 on April 19, Celer Network price staged a strong rally to reach its current valuation of $0.0616. It’s probably before the next Telegram session on Sunday with Dr Mo Chong.
What do Celer networks do? On their website, they explain the feature as follows:
“a Layer 2 scaling platform for building fast, easy-to-use, inexpensive, and secure blockchain applications at Internet scale through off-chain scaling techniques and to an incentive-aligned cryptoeconomy”
Celer Network is still a relatively small player in the Crypto universe. CoinMarketCap.com ranks the coin at 154th place with a market capitalization of $339 million.
The total supply is limited to 10 billion coins, of which 5.5 billion are currently in circulation.
Celer Network Price Prediction
Year-to-date, trading conditions on Celer Network have been volatile to say the least.
While investors may not have liked Celer Network’s volatility. They would certainly have enjoyed the performance.
From January 1 to March 28, the price of the Celer network increased by +2,310%. Taking the price of the coin from $0.0043 to $0.1037.
After the spike in March, Celer Network price, like many altcoins, returned some gains. At its lowest point of 0.039 during last week’s crypto sell-off event, it was down 62% from the all-time high.
Over the past 6 trading sessions, the coin has recouped some losses, posting a respectable 57% rebound from the lows at $0.615.
Celer network price remains in a descending channel from the March highs. The upper end of the channel will provide resistance at $0.0709. A break above this marker would target the April 15 high at $0.0853.
As the saying goes, the trend is your friend. Trend followers may look to initiate short positions towards resistance. The short thesis is canceled on a break above the descending trendline on a closing basis.
Support comes in at the April 13th low of $0.056. If that fails, the April 23rd low at $0.0399 is the next target.
Celer Networks Pricing Table
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