CELO USDT Celo Technical Analysis

Celo logo In this Celo technical analysis, we will examine the current price action, trading volume, key levels and indicators for CELO-USDT. Celo is a decentralized, open-source blockchain platform that enables the creation of scalable, interoperable, and user-friendly decentralized applications (dApps). Its unique architecture leverages a novel consensus algorithm called “Proof of Belief” to achieve fast and secure transactions. Celo’s vision is to empower developers and users alike by providing a platform that enables the building of next-generation dApps, with a focus on user experience and usability.

Celo Price Overview:

As of October 02, 2023, Celo is trading at approximately 0.447 USDT. Let’s dive into the detailed price action for CELO-USDT:

Metric Value
Open (O) 0.465
High (H) 0.468
Low (L) 0.44
Close (C) 0.447
Volume (C) 4,835,659.10
  • Open (O): The opening price for today’s trading session was approximately 0.465 USDT.
  • High (H): Celo reached a daily high of around 0.468 USDT.
  • Low (L): The daily low for CELO-USDT was approximately 0.44 USDT.
  • Close (C): At the time of analysis, Celo is trading near its daily close of 0.447 USDT.
Metric Value
1D Change (%) -3.66%
3D Change (%) -0.22%
7D Change (%) -3.66%
30D Change (%) 4.68%
90D Change (%) -20.04%
YTD Change (%) -5.89%

Over the past three days, CELOUSDT has decreased by approximately -0.22%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -3.66%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with CELOUSDT maintaining an upward trend of approximately 4.68%, despite intermittent fluctuations. Examining the last 90 days, CELOUSDT has witnessed substantial decline of approximately -20.04%, reflecting strong long-term confidence. Year-to-date, CELOUSDT has steadily depreciated by around -5.89%, 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-USDT 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 0.46077.
  • Momentum score is 0.04684.

CELO USDT Technical Analysis

Celo Trading Volume:

The trading volume for Celo (CELO) over the past 24 hours has been insignificant, with approximately 4,835,659.10 USDT traded against CELO. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.

Moving Averages:

  • 50-day Simple Moving Average (SMA): CELO is currently trading above the 50-day SMA, indicating short-term bullish momentum.
  • 200-day Simple Moving Average (SMA): Celo is also trading above the 200-day SMA, indicating a positive long-term outlook.

Relative Strength Index (RSI):

  • The RSI30 for CELO-USDT is currently in the neutral zone, around 49.31541. This suggests that Celo is in range-bound territory.

Analysis from TradingView:

Our Key Takeaways:

Celo (CELO-USDT) is currently exhibiting signs of short-term bullish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT 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.