Cryptocurrencies

CELR technical analysis

CELR seen from the temporality of 1D we can see how the structure of candles has formed an HL (lower higher) creating in this way a symmetrical triangle in relation to the lower highs, the current candle has begun to gain momentum after the price found support in the range of 198 – 204 that I have indicated in the chart inside the blue lower rectangle, I have also indicated the important areas of supply in the upper part of achieving the break up of this setup.

CELR seen from the temporality of 4H we can observe more closely the zone where the price has found support and started to take a good momentum, in the graph above we can see the resistances inside the setup that the price should not have much problem in surpassing, the price keeps a good movement, if the current candle closes above the resistance located at 222 would increase the chances of seeing the price rise much more to try to break the resistance of the triangle.

CELR has very good fundamentals for this month and the rest of the year, release of its SDK and PoLC mainnet launch, are very important events to keep in mind.

In conclusion, the price should continue to rise during the next few days to test the resistance of the triangle, if all goes well, the price will have a clean break upwards, the objectives to take into account are the price range of 326 – 346 and the price range of 413 – 428.

I have also placed the important supports in case of a bearish scenario, being the support located at 185 as the most important.

As I always say, you have to be aware of the movement, invalidations can occur, there is no 100% reliable analysis, take your own precautions when trading.

You can follow me on Twitter: https://twitter.com/armijogarcia

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