Celsius (CEL) Technical Analysis 2021 for Crypto Traders

Celsius (CEL) Technical Analysis 2021 for Crypto Traders

In Celsius (CEL) Technical Analysis 2021, we use past statistics, price analysis, RVOL, MA, and much other information about CEL to analyze the future trend of the cryptocurrency. 

Celsius Networks is a P2P lending platform that enables users to borrow and lend cryptocurrencies. By using their cryptocurrency as collateral, borrowers can easily obtain fiat currency at low interest rates without having to sell their cryptocurrency. The lender receives the interest rate of the cryptocurrency deposited in their Celsius Network wallet.

Celsius (CEL) Current Market Status

According to CoinGecko, the CEL price is trading at $5.24 with a 24-hour trading volume of $18,824,506, at the time of writing. However, CEL has increased by 11.7% in the last 24 hours. 

In addition, CEL has a circulating supply of 423,415,980 CEL. Currently, CEL trades in  OKEx, FTX, HitBTC, Gate.io, and Bitfinex. 

Celsius (CEL) Technical Analysis 2021 

Celsius (CEL) holds the 43rd position on CoinGecko right now. The recent development and upgrades might push CEL to reach new heights. Now, let’s deep dive into the CEL technical analysis 2021. The daily time frame chart of Celsius (CEL) is shown below.

CEL/USDT Descending Channel Trend Pattern (Source: Tradingview)

The descending channel trend is the price action that occurs between the upward and downward trendlines. In addition, lower highs and lows constitute this price pattern.

Celsius (CEL) RSI

The below chart shows the relative strength index (RSI) of CEL. 

CEL RSI (Source: TradingView)

As shown in the below chart, RSI remains at 39.56. This shows that CEL’s price is in a nearly oversold state. However, this means a major price reversal may occur in the upcoming days. So, traders need to trade carefully. 

Celsius (CEL) RVOL

The below chart shows the Relative Volume of CEL. 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.

CEL RVOL(Source: TradingView)

Notably, in the mid July, it is found that the RVOL observed is stronger. Currently, the RVOL started to fall below the cutoff line which represents the weaker volume in the current trend.

Celsius (CEL) Moving Average

CEL’s Moving Average (MA) is shown in the chart below. MA supports traders to find trends.

CEL MA (Source: TradingView)

CEL price fell at 50 MA (short-term), but it has not broken through 200 MA. Once it breaks the 200 MA level of CEL, it completely goes to a bearish state.

CEL prices are currently trading around 200MA, so we can expect some reversals at these points.

Celsius (CEL) Price Comparison With Bitcoin

The below chart shows the price comparison between CEL and BTC. 

CEL vs BTC Price Comparison chart(Source: TradingView)

From the chart, we can identify the trend of the BTC and CEL is moving at the same level as the trend. This indicates when the price of BTC increases or decreases, the price of CEL also increases or decreases respectively.

Conclusion

With the ongoing developments and upgrades that are taking place within the CEL platform. Celsius has a great future ahead in this crypto market. However, CEL can reach new heights.

Bullish CEL price prediction 2021 is $6.5. As mentioned above, it may reach great heights, however reaching $8, if investors have decided that CEL is a good investment in 2021.

FAQ

What is CEL?

CEL is an all-in-one financial and banking services platform for crypto users. Its native coin is Celsius.

Where can you purchase CEL?

CEL is listed on many cryptocurrency exchanges that include OKEx, FTX, HitBTC, Gate.io, and Bitfinex. It is available for trading against crypto fiat coins, stablecoins, and other cryptocurrencies.

Will CEL reach a new ATH soon?

With the ongoing developments and upgrades within the CEL platform, it has the high possibility of reaching its ATH soon.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Monisha is a Senior Programmer in the Automotive Embedded domain. Her interest in the cryptocurrency field made her write about crypto and blockchain-related news.