Celer Network is a layer-2 scaling platform that aims to make off-chain transactions for payments and generalized off-chain smart contracts fast, easy, and secure. The goal of the project is to achieve “mass adoption for blockchain” by providing a frictionless experience powered by layer-2 scalability technology.
Celer Network (CELR) Current Market Status
According to CoinGecko, the CELR price is trading at $0.043 with a 24-hour trading volume of $40,576,815, at the time of writing. However, CELR has dropped to 1.24% in the last 24 hours.
In addition, CELR has a circulating supply of 5,748,480,630 CELR coins. Currently, CELR trades in Binance, OKEx, CoinTiger, Hotcoin Global, and HitBTC.
Celer Network (CELR) Technical Analysis 2021
Celer Network (CELR) holds the 227th position on CoinGecko right now. The recent development and upgrades might push CELR to reach new heights. Now, let’s deep dive into the CELR technical analysis 2021. The daily time frame chart of Celer Network (CELR) is shown below.
During a bullish rally, an ascending scallops pattern is seen. This pattern appears to be shaped like a J with a slight tilt to the right. An upward breakout is one that occurs above the pattern’s highest high, while a downward breakout occurs below the pattern’s low.
Furthermore, the theory explains that there is a price drop at the start of the pattern. The drop is smaller, and it reverses, creating a wider bottom. Following the reversal, the price rises further, and the entire pattern resembles a tilted J.
Currently, CELR trades in a range of $0.043. If the trend continues then it will lead to a further surge up to the $0.10 Level. If the trend reverses to the down side, then it will reach the support level at $0.019.
Celer Network (CELR) RSI
The below chart shows the relative strength index (RSI) of CELR.
As shown in the above chart, RSI remains at 51.33. This shows that CELR’s price is neither overbought or oversold state. This shows that traders have to trade carefully, however, major price reversal could take place.
Celer Network (CELR) RVOL
The below chart shows the Relative Volume of CELR. It is an indicator that indicates to traders how the current trading volume has changed over a period of time compared to the previous trading volume.
Currently, the RVOL of CELR lies below the cutoff line which represents the weaker participants in the current trend.
Celer Network (CELR) Moving Average
Celer Network’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.
Currently, CELR is in a bullish state. However, CELR price is closely above 50 MA (short-term), and it is now along with 200 MA. Possibly, CELR can also move above 200 MA (long-term) soon.
Once it moves above 200 MA level, it completely goes to a bullish state. Moreover, there is a high possibility of trend reversal at any time.
Celer Network (CELR) Price Comparison With Bitcoin
The below chart shows the price comparison between CELR and BTC.
From the chart, we can identify the trend of the BTC and CELR is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of CELR also increases or decreases respectively.
With the ongoing developments and upgrades that are taking place within the CELR platform. Celer Network has a great future ahead in this crypto market. However, CELR can reach new heights.
Bullish CELR price prediction 2021 is $0.10. As mentioned above, it may reach great heights, however reaching $0.35 is also possible, if investors have decided that CELR is a good investment in 2021.
Celer Network is a layer-2 scaling platform that aims to make off-chain transactions for payments and generalized off-chain smart contracts fast, easy, and secure.
CELR is listed on many cryptocurrency exchanges that include Binance, OKEx, CoinTiger, Hotcoin Global, and HitBTC.
With the ongoing developments and upgrades within the CELR platform, it has the high possibility of reaching its ATH soon.
Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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