In this Celo technical analysis, we will examine the current price action, trading volume, key levels and indicators for CELO-BTC. Celo (CELO) is a decentralized, open-source blockchain platform that enables the creation of scalable and interoperable decentralized applications (dApps). By utilizing a proof-of-stake consensus algorithm and leveraging the Cosmos SDK, Celo provides a flexible and secure foundation for developers to build upon. With its focus on usability and scalability, Celo has the potential to become a leading platform for decentralized applications in various industries.
Celo Price Overview:
As of October 02, 2023, Celo is trading at approximately 2e-05 BTC. Let’s dive into the detailed price action for CELO-BTC:
- Open (O): The opening price for today’s trading session was approximately 2e-05 BTC.
- High (H): Celo reached a daily high of around 2e-05 BTC.
- Low (L): The daily low for CELO-BTC was approximately 2e-05 BTC.
- Close (C): At the time of analysis, Celo is trading near its daily close of 2e-05 BTC.
|1D Change (%)||-3.38%|
|3D Change (%)||-3.55%|
|7D Change (%)||-8.45%|
|30D Change (%)||-2.79%|
|90D Change (%)||-11.63%|
|YTD Change (%)||-44.22%|
Over the past three days, CELOBTC has declined by approximately -3.55%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -8.45%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CELOBTC maintaining a downward trend of approximately -2.79%, despite intermittent fluctuations. Examining the last 90 days, CELOBTC has witnessed substantial decline of approximately -11.63%, reflecting strong long-term confidence. Year-to-date, CELOBTC has steadily declined by around -44.22%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Celo Live Chart:
You can access a live price chart for CELO-BTC on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.37792.
- Momentum score is -0.0279.
CELO BTC Technical Analysis
Celo Trading Volume:
The trading volume for Celo (CELO) over the past 24 hours has been insignificant, with approximately 50,116.60 BTC traded against CELO. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
- 50-day Simple Moving Average (SMA): CELO is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Celo is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for CELO-BTC is currently in the neutral zone, around 46.5227. This suggests that Celo is in range-bound territory.
Analysis from TradingView:
Our Key Takeaways:
Celo (CELO-BTC) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the BTC monthly resistance level and the BTC support level for potential trading opportunities. Additionally, the neutral RSI and insignificant trading volume are neutral signals for potential sideways movement.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.