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Celo price analysis: CELO steps down to meet $6.05 as declining trend grows

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  • The price has been devalued to $6.054.
  • Celo price analysis confirms bearish comeback.
  • Support is still quite strong at $5.46 level.

The CELO/USD price is going down once again as the bears have returned to the price charts. Red candlestick is marking the loss in price, as it has moved down to the $6.054 level in the last 24-hours. The ongoing uptrend in price has been interrupted in this way as a downward price movement has been recorded. The reversal in trends proved to be quite discouraging for the buyers as an upturn in price was expected initially.

CELO/USD 1-day price chart: Bulls lose ground as bears succeed in bringing downfall

The price is experiencing a fall once again as the one-day Celo price analysis is indicating a bearish trend for the day. The price has decreased up to $6.05 in the last 24-hours, which is not so promising for the buyers. The price had been traveling quite steadily during the past few days but today, the trends have been shifted as now the bears are at lead. The moving average (MA) value is still at a lower level as compared to the price i.e. $5.817.

Celo price analysis: CELO steps down to meet $6.05 as declining trend grows 1

The volatility has slightly increased which means that a further drop in price is to be expected. The upper Bollinger band is currently touching the $6.33 value whereas the lower Bollinger band is at the $5.46 value. The Relative Strength Index (RSI) score has declined to 54.62, because of the depreciation in price.

Celo price analysis: CELO finds recovery above $6.03 after persistent damage

The four hours Celo price analysis is showing signs of bullish activity as a rise in price has been detected in the last four hours. A downtrend had been following earlier which proved quite detrimental for the overall CELO market value. But now the bullish momentum has regained stability as the price has improved up to the $6.035 level today. The moving average value in the four hours price chart is standing at the $6.145 level.

Celo price analysis: CELO steps down to meet $6.05 as declining trend grows 2
CELO/USD 4-hours price chart. Source: TradingView

The short-term trending line is still descending as the bears had been in command previously. The upper value of the Bollinger bands Indicator is at the $6.35 position whereas its lower value is settled at the $5.65 position. The RSI curve is going upwards once again as the score has heightened up to 52.17 during the last four hours.

Celo price analysis: CELO steps down to meet $6.05 as declining trend grows 3
CELO/USD technical indicators chart. Source: TradingView

The overview of the trends shows that the price has improved considerably in the past few months. This month, a rise in price has been observed as well as the technical indicators chart is further confirming. There are 13 indicators on the buying position, nine indicators on the neutral position, and four indicators on the selling position.

The Oscillators are going neutral as there are eight oscillators at the neutral level, two oscillators at the selling level, and only one oscillator at the buying level. The moving averages indicator is giving out a strong bullish signal, thus providing support for the buyers. There are 12 indicators on the buying position, while only two indicators are there on the selling and one indicator on the neutral positions.

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Celo price analysis conclusion

The bears are trying to make way for dominance once again and have so far succeeded in their mission as a downturn has been recorded. The price has receded down to the $6.054 level today, as the bears have been able to secure their momentum. The price might undergo improvement in the coming hours as the four hours price chart is displaying hopeful results.

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Celo Price Prediction 2021-2025

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The Celo ecosystem is a blockchain-based network that seeks to raise the number of cryptocurrency users on smartphones. The platform founders identified a wide gap between the number of smartphone users and cryptocurrency users.

The overall adoption of cryptocurrencies has been relatively slow over the years, but it has recently begun to pick up. The Celo team is determined to integrate smartphones numbers and use their public keys to facilitate blockchain-based transfers of cryptocurrencies.

The Celo project aims to crack the smartphone industry and promote the adoption of cryptocurrencies to a broader audience. The Celo system aims to connect billions of smartphones to the cryptocurrency space, making crypto a household name.

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The project aims to ensure that everyone has access to decentralized finance (DeFi) by using a broad range of smart contracts within its blockchain network.

Through its robust catalog of decentralized applications (DApps), Celo will help provide much-needed financial services to both the banked and the unbanked.

The Celo ecosystem operates two native digital tokens, the CUSD (Celo dollar)- a stablecoin already in use within the platform, and the CELO cryptocurrency. We will be analyzing the latter’s price predictions in this article.

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Essentially, the CELO price prediction is massively dependent on the current CELO price and the historical price of the CELO cryptocurrency. However, before we have a deeper analysis of the future price of CELO, let’s look at the Celo protocol and what it entails to have a better understanding of the project and transaction fees between CELO wallet and another.

Celo Price Prediction 2021-2025 1

Image Courtesy of Coin Market Cap 

What is Celo?

The Celo blockchain is unique in that it provides a special focus to the financial sector. When the internet began, every product was fixated on serving desktop users until the designers realized the importance of mobile users.

We often use mobile phones more than we use our desktop computers. The Celo team aims to absorb mobile users into the world of cryptocurrencies to make transactions more straightforward and much more accessible.

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The Celo project is optimized for mobile and allows users to pay gas fees instantly, and it’s calculated instantly on the application.

Additionally, the native token of Celo is aimed at providing utility to marginalized regions where most people do not have access to conventional banking services. It allows smartphone users to access several aspects of decentralized finance through its arsenal of smart contracts and decentralized applications.

Since there is a wide gap between crypto adopters and smartphone users, the Celo ecosystem aims to bridge this gap and allow smartphone owners to access all DeFi features on their phones.

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The CELO token is poised to benefit this venture since smartphone users’ increasing adoption of the Celo blockchain will undoubtedly result in the CELO price increase according to CELO coin price prediction.

There are two native coins on the Celo platform, the CELO digital token and the CUSD, a stablecoin. These two cryptocurrencies complement each other within the Celo platform. CELO has a maximum supply of 1 billion tokens.

The CELO token employs unique tokenomics, which are meant to benefit CELO price today and the price of CELO in the future.

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The Celo platform users can utilize the CELO cryptocurrency to make governance decisions helps forecast through a voting system. Also, the proof of stake consensus algorithm allows the network to be sufficiently secure, ensuring the safety of CELO coin investors in the long run.

Aside from being a speculative cryptocurrency with the ability to increase in value, the token has a wide range of utilities. Crypto traders can buy and sell the cryptocurrency on popular cryptocurrency exchange platforms to make short-term profits. Similarly, users of the platform use the token to pay for transactions within the Celo ecosystem, putting the cryptocurrency in demand.

Having understood the Celo platform, it is prudent to look at the historical price of CELO to determine its expected future price and give aspiring holders a glimpse of what our data says about CELO price prediction.

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CELO price history and technical analysis

Celo Price Prediction 2021-2025 2

Image Courtesy of Trading View

The historical price of the CELO cryptocurrency is helpful in forecasting the future price of CELO. Our technical analysis relies on some of the most popular technical indicators and a select group of unique indicators that are often less popular among traders.

However, the analysis of the price charts is meant to provide a clear direction of the future price of CELO and should, however, not be used as a primary source of investment advice.

Before we analyze historical data, let’s look at the current state of the CELO cryptocurrency and its position in terms of market capitalization.

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At the time of this writing, CELO is currently trading at $6.09, indicating a negative price change of -3.68% within the past 24 hours.

On the contrary, the trading volume of the CELO cryptocurrency has gone up in the last 24 hours by a staggering 43.99% to $93,625,377.59. Today, the CELO token is ranked at position #74 by market capitalization according to live data from Coin Market Cap.

The CELO token currently commands an impressive 0.07% of the total cryptocurrency market, making it the 74th most dominant cryptocurrency on CoinMarket Cap.

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Although its trading volume has gone in the last 24 hours, the market dominance has reduced. The current market capitalization of CELO is $2,120,782,365.69, and it indicates a 5.21.% decrease from its value 24 hours ago.

Admittedly, the price of CELO is currently very volatile, with wide gaps between the highest price and lowest price of the token within a 24 hour trading period. For instance, two days before today, the toke recorded the lowest price of $5.44 and the highest price of $6.64 within 48 hours.

However, the coin has experienced an impressive run since it was launched, giving early investors approximately 638% return on investment for those who invested at launch.

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Since the CELO coin began to trade on major cryptocurrency platforms, it has recorded a wide range of prices, resulting in a significantly wide gap between its all-time high and all-time low trading price.

Today, the token has been recorded to trade at a record high price of $10.66. Similarly, the lowest ever recorded trading price of CELO is $0.7955.

From these two sets of data about the highest and lowest price, we can gauge the current valuation of CELO cryptocurrency and determine whether it is suitable to buy at the moment. For our analysis, the current price is approximately 43% below its highest ever price. Similarly, the price of CELO USD today is up 667.60% from its lowest price ever recorded.

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The percentages indicate that the current CELO exchange rate provides a reasonable valuation of the token, establishing a support level at around the $6 mark. Therefore, the future looks undoubtedly bright for CELO token holders; however, cryptocurrency enthusiasts need to note that CELO’s price is expected t remain relatively stagnant for the rest of the year, and significant gains are projected to transpire after a few years.

Therefore, CELO predictions may suggest that the cryptocurrency is suitable for long-term investors but inappropriate for short-term investors.

Let’s synthesize the above information by analyzing some of the benefits and demerits of investing in CELO today.

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Pros and Cons of investing in CELO

The Celo network provides a significant amount of utility to the financial sector. Much has been discussed about the scalability of blockchain technology and the ability to get the technology to reach all corners of the world.

Currently, Celo is at the forefront of this mission to make cryptocurrencies a household name among the unbanked and the underprivileged.

The project will reach billions of users by targeting everyone with a smartphone since the world is currently home to billions of smartphones.

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The platform fronts the idea of using phone numbers as public keys on its blockchain to facilitate the transfer of cryptocurrencies between users.

The potential of the Celo ecosystem is massive and successful penetration of smartphone users will undoubtedly be a big boost to CELO token investors.

Here are some pros and cons of investing in CELO at this stage.

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Pros of investing in CELO

  • At the moment, CELO is trading below its ATH; however, price predictions indicate that the token will resume a bullish momentum that will see it begin to restest its resistance level. Our analysis suggests a strong bullish momentum in the future that will benefit long-term holders of CELO.
  • The Celo platform provides a credible solution to the cryptocurrency space; unlike other shitcoins, the project aims to solve an actual problem in the cryptocurrency space. Massive adoption of the Celo blockchain will undoubtedly ensure that the price of CELO goes up, and early investors stand a chance to make huge profits from the forecasted price increases.
  • Currently, the trading volume of CELO has been on the rise, indicating an increasing demand by cryptocurrency traders. If the trend continues, the token will certainly realize even further price gains that will, in turn, result in more profits making CELO a profitable investment in the long term.
  • Smartphone users comprise the majority of internet users and make up the Celo team’s primary target. Suppose the Celo network adopts a majority of smartphone users and integrates cryptocurrency transactions using phone numbers. In that case, the token holders will benefit from the massive profits from their CELO tokens which will be in high demand for transactions.
  • Trend analysis on the price chart of the CELO cryptocurrency indicates a possible bullish momentum to resume next year. However, the projected bull momentum appears to be relatively slow, with an exponential growth in CELO price expected to happen two years from now. Therefore, holders with a longer time horizon stand to benefit more from holding the token.

Cons of investing in CELO

  • CELO is a speculative digital asset with a market dominance of 0.07% as of today. With a market cap of $2,120,782,365.69, this token is easily susceptible to induced market volatility by whales. If whales decide to pump and dump, weak hands may lose a significant part of their investments out of fear.
  • Considering the short-term CELO forecast, it is evident that the is an anticipated drop in its value over the coming years. The decline, however, is projected to last a short while, with the token resuming its bullish momentum later in 2022. However, if the crypto market experiences another bear run, CELO holders can witness a prolonged downward trend.

CELO market analysis

In 2021, the CELO token has experienced a mixture of both bear runs and bullish runs. Although the entire cryptocurrency market has experienced the same, the CELO token has demonstrated some unique trends in its price chart.

Since we are nearing the end of the year, the trading volume of CELO to USD is expected to increase; however, not much price action is expected within the remaining months. In essence, the price forecasts indicate a possibility for a price decrease of the cryptocurrency towards the end of the year and the beginning of 2022.

There are conflicting price predictions about the price of CELO towards the end of the year, and the cryptocurrency is expected to dip in price with minimal margins. Therefore, the price forecast indicates that cryptocurrency enthusiasts should not seek to invest in the token for the short-term period.

According to our data from historical price action and trend analysis, it is true that CELO prices will reduce in December 2021. The expected minimum value of the coin is $4.64, while the predicted maximum value is $6.83.

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As per the projections, we can conclude that CELO will be trading at an average price of $5.46 in December, which shows a reduction from the current trading price. Therefore, short-term investors stand to lose their initial investment if they commit their hard-earned money to CELO for the short term.

The above figures demonstrate a -9% decrease in price from the CELO’S price today, indicating a bad short-term venture in 2021.

CELO price prediction from TradingBeasts

Celo Price Prediction 2021-2025 3

Image Courtesy of TradingBeast

Trading Beasts are known for their conservative price projections on cryptocurrencies. They often provide a steady growth of tokens based on their forecasting system; however, not all tokens are predicted to increase the price.

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The CELO cryptocurrency is among the few tokens that do not receive full endorsement from the Trading Beast team. Their analysis depicts that the cryptocurrency will experience a downward trend for a significant amount of time. Therefore, it is prudent for them to discourage cryptocurrency enthusiasts from buying CELO at the moment.

However, the CELO cryptocurrency prediction depends on a broader spectrum of variables affecting its current and future price. Considering its maximum supply and circulating supply, there are higher possibilities of the token resuming the bull trend in the future.

Although these speculations are valid according to Trading Beasts’ data, they do not shy away from discouraging cryptocurrency holders from staying away from CELO until it resumes its upward momentum. Currently, the cryptocurrency is projected to trade at a maximum value of $ 6.83428 and a minimum value of $ 4.64731 by December 2021. These projections, like many others, indicate a significant decrease in the token’s price, calculated at about a -10% decrease from today’s CELO price.

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Trading Beasts projects that the decline will continue across 2021 and 2022, with the predicted prices in January of 2022 also relatively low compared to the current trading prices. As per their analysis, the CELO coin will probably trade on major cryptocurrency exchanges at an average value of $5.52361.

The average price of the token is determined by averaging all the expected prices in January. For clarity, according to these forecasts, the highest possible value of the CELO cryptocurrency is $6.90451, while the lowest expected value for the token is $4.69507.

Based on Trading Beasts forecasts, it is clear that the CELO cryptocurrency isn’t suitable for short term hodlers; however, further price prognosis of the cryptocurrency indicate a bullish momentum that will see the token test its resistance levels as it attempts to break out and set a new all-time high price.

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CELO price prediction from Wallet Investor

Celo Price Prediction 2021-2025 4

Image Courtesy of Wallet Investor

Wallet Investor, on the other hand, is a popular source of bold cryptocurrency price predictions. The platform offers a quick analysis of the historical prices of the token and uses the information to predict the future prices of a cryptocurrency.

According to their website, the price projections are made using advanced technical indicators that consider several aspects of the trend line.

The smart technical analysis utilized by this platform has predicted that the price of CELO will continue to increase in the coming years and tells crypto holders that the CELO token is an “outstanding” investment for the long term.

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The perception of a long-term investment varies from person to person; however, according to Wallet Investor, a one-year investment on CELO is termed a long-term venture and is predicted to yield desirable returns for cryptocurrency holders.

Based on their current price projections, the CELO coin is poised to yield lucrative returns for its long-term holders. Their findings show that the cryptocurrency will appreciate a staggering market value of $8.959 within a year. Therefore, the one-year forecast of the token implies that the cryptocurrency will be bullish for most of 2022.

Although the current CELO coin price is on a downward trend, the coin is poised to recover quickly, according to tot Wallet Investor’s projections. Considering the current price of the token, the are impressive gains that could be witnessed in five years of holding the CELO coin.

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According to Wallet Investors, the cryptocurrency would go through a steady bull run to see the token trade at an outstanding market value of $19.544. Based on these figures, we expect the cryptocurrency to increase with an impressive percentage change of 322% within the five years.

These figures show signs of an excellent investment, implying that within five years, one can grow a 1000 dollar invested in CELO to an outstanding value of $3220.30, implying a 3x change in value which is quite desirable for most crypto holders.

Wallet Investor, therefore, differs from Trading Beasts in their forecast for the short term period. Still, they are in synch about the longer price prognosis of the CELO coin, indicating an imminent CELO price increase.

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Therefore, although cryptocurrency holders can use these CELO price predictions to determine the expected future price of CELO, cryptocurrency enthusiasts should not consume this information as to their investment advice about the CELO price forecast.

Cryptopolitan’s verdict on CELO

Cryptopolitan predicts that the CELO token will assume an upward trend over the years, ensuring that holders earn considerable profits from their CELO token investments.

However, the CELO platform provides an ambitious project that requires investors to believe in its viability before the CELO token can rally higher and set new all-time highs.

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Based on the trend analysis, the cryptocurrency has a massive potential to continue the bullish momentum as it aims to retest its resistance levels. The research, therefore, encourages crypto investors to continue monitoring CELO price prediction to make investment decisions.

Cryptopolitan, therefore, provides a long-term CELO price forecast to provide cryptocurrency enthusiasts with a more detailed CELO forecast over five years and more prolonged. Below is the CELO price prediction for 2021 to 2025.

CELO price prediction for 2021

In 2021, CELO price analysis indicates that the cryptocurrency has experienced both bear and bull markets and has reacted according to the overall market sentiment.

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Our analysis shows that CELO prices will dip in December 2021. However, the price dip is attributed to average crypto market volatility and should not be interpreted as a trigger to a bearish trend.

Based on our findings, the CELO cryptocurrency will trade at a minimum of $4.49181 and a maximum trading value of $5.28448, implying a negative growth rate from today’s price.

CELO price prediction for 2022

Celo Price Prediction 2021-2025 5

Image Courtesy of Trading Beasts.

In 2022, the value of CELO is expected to increase as more people adopt the Celo platform momentarily. The project’s aim to penetrate the mobile market is valid, and much anticipation arises from the potential massive adoption of the blockchain project.

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According to our price analysis for Jan 2022, the cryptocurrency will trade at a minimum of $ 4.53 and a maximum trading price of $ 6.66, indicating minimal but positive growth from its current value.

By December 2022, we expect the token to have gained significant momentum, and the overall price is expected to increase dramatically as well. Data shows that the expected trading price by December 2022 for the CELO token is an average trading price of $6.10002

CELO price prediction for 2023

Celo Price Prediction 2021-2025 6

Image Courtesy of Trading Beasts.

In 2023, the same bull run is projected to continue, and the cryptocurrency holders are predicted to have impressive gains by 2023. According to the price analysis of the cryptocurrency today, the USD predictions indicate a solid bullish momentum attributed to continued adoption of the Celo network, which in return, will create a firm reliance thereon for CELO and impacts its predicted price.

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Based on the available data from our analysis, the cryptocurrency can rally higher as it tests its resistance levels and attempts to set new all-time highs. Price predictions for CELO show that the cryptocurrency can trade at a high value of $7.72 and a low value of $5.252 in Jan of 2023.

Based on these USD projections, the cryptocurrency will record even higher prices by December 2o23. Our projections indicate the average CELO price by December 2023 is $6.2047

CELO price prediction for 2024

Celo Price Prediction 2021-2025 7

Image Courtesy of Trading Beasts.

CELO crypto coin price predictions for 2024 continue to be bullish, and the overall price is expected to break its current all-time high. Forecasts show that the Celo platform will have amassed a more extensive user base, and more CELO tokens will demand.

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Since smartphone users have a broader target market, the cryptocurrency could penetrate the crypto space and allow cryptocurrency enthusiasts to enjoy the convenience of using crypto on smartphones using their mobile numbers as a public wallet address. One major challenge facing cryptocurrency users is the inability to memorize and use complex wallet addresses.

Celo simplifies this problem and introduces efficiency and ease of use to the crypto space. The impact of these products in 2024 is projected to be massive. The token will trade at a mean price of $ 8.34740 by December 2024, with the maximum price projected to be $10.43425 and the minimum price to be $7.09529.

CELO price prediction for 2025

The price predictions for the CELO cryptocurrency 2025 still remain bullish, and the projections indicate new all-time highs will be recorded. As per the price prognosis, the cryptocurrency will momentarily increase its value as the coin’s adoption increases. The CELO price in 2025 is therefore expected to rise to an average value of $14.516.

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The expected maximum price is $15.96, while the expected minimum price is $13.087. These figures indicate a solid bullish trend from the current value of CELO price.

Conclusion

CELO cryptocurrency price shows all the bullish tendencies and therefore is a good investment for cryptocurrency enthusiasts. The token can ensure that users earn significant profits from their investments over a more extended investment period. Although market volatility is unpredictable, the price analysis of the cryptocurrency allows us to predict a relatively positive growth over five years and beyond.

The CELO price analysis based on the CELO price forecast shows that cryptocurrency enthusiasts can y CELO and hold it for the long term. Price prediction CELO from several mathematical predictions is bullish. A project that the current downward trend of CELO will be flipped and a bullish run will begin in 2022, and the trend is poised to continue over the next few years.

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FAQs

Cryptocurrency investors are often curious about the potential outcome of their investment capital on certain crypto coins. The CELO predictions above indicate a possible upward momentum for the CELO price. The projections indicate an upward trend that most investors interpret as a green light for long-term investing.

Below are some of the most asked questions about CELO investment during this period of increasing cryptocurrency adoption

Is CELO a safe investment in 2021?

The CELO cryptocurrency powering the Celo network is a safe investment in 2021 since it is poised to record significant trading price increases from December 2021. The cryptocurrency, according to CELO predictions, can encourage investors not to sell CELO. Instead, most cryptocurrency enthusiasts are encouraged to buy CELO based on the USD predictions for CELO.

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Where can I buy CELO cryptocurrency?

CELO virtual currency can be bought on several cryptocurrency exchanges today. Since the coin has an average market dominance of 0.08%, it already has quite a large following due to increasing crypto usage on the Celo blockchain ecosystem with automatic fee calculation.

CELO markets are available on Binance, Coinbase Exchange, Binance US, KuCoin, and Gate.io. The crypto exchange platforms offer several market pairs, including CELO/USDT, CELO/BUSD, CELO/BTC, and CELO/USD.

Is CELO profitable for short-term investors?

Depending on the crypto holders’ needs, the CELO cryptocurrency can be profitable in the short term. A short-term investment that could last a year or less can benefit if the coin follows the CELO price forecast above.

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However, a cryptocurrency enthusiast shouldn’t buy and hold CELO for less than a month. Since the volatility experienced in the crypto space is more than that in the stock market, there is a possibility of losing money in the short term.

Should I buy and hold CELO for the long term?

Yes, CELO projections on a prolonged time frame indicate an incredible bullish trend. The token is expected to continue rallying high and restest its resistance level in a few years.

Therefore, the cryptocurrency will ensure crypto holders enjoy a good return on investment in the long run, making it a profitable investment option for the long term.

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Celo price analysis: Cryptocurrency faces rejection at $6.74 after a bearish strike

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  • The price has moved down to $6.73.
  • Celo price analysis supports the bears.
  • Support level is still at $5.302 point.

The Celo price analysis reveals that the bears have returned to the price chart after finding their way to gain control over the price function. Although the price had been traveling high for the past few days, today’s trend has not been very supportive. The bulls were unable to take the price across the $6.752 hurdle because of the abrupt fall in price. The cryptocurrency is going through a loss now as the CELO/USD price has been devalued to the $6.728 level today.

CELO/USD 1-day price chart: CELO price depreciates to $6.728 after downturn

The one-day Celo price analysis shows that the price is headed down once again after encountering defeat. Although an uptrend was at its peak in the previous week, the most recent price movement has been in the bearish direction. The price has receded to the $6.72 level as the bears were able to secure their position on the candlestick chart once more. The price is still above the moving average (MA) value which is at $6.26.

A crossover between SMA 20 and SMA 50 curve occurred in the past week, but now the bears have interrupted the uptrend. The increasing volatility has taken the upper Bollinger band to the $6.752 position and the lower Bollinger band to the $5.302 position. The Relative Strength Index (RSI) score has moved down to 62.63 because of the bearish momentum.

Celo price analysis: Price experiences sudden fall below $6.72 after bearish repulsion

The four hours Celo price analysis is indicating a bearish trend as the price has dropped down at a significant level. The short-term trending line is now descending because of the downward price movement. Although the bulls were maintaining their lead quite efficiently, the last four hours proved unsupportive for the buyers. The price has been lowered to $6.73, just above the moving average value i.e. $6.706.

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Celo price analysis: Cryptocurrency faces rejection at $6.74 after a bearish strike 2
CELO/USD 4-hours price chart. Source: TradingView

The volatility has increased in the last few hours, which is not a positive indication for the future. Moving on, the Bollinger bands indicator is showing the following values; the upper band is at $7.024 position whereas the lower band is at $5.84 position. The RSI score is now at 62.64, below the overbought range.

Celo price analysis: Cryptocurrency faces rejection at $6.74 after a bearish strike 3
CELO/USD technical indicators chart. Source: TradingView

The overview of the cryptocurrency progress proves that the bulls have been in the winning position for the greater part. This is why the technical indicators chart for CELO/USD is giving support to the buyers. There are 14 indicators on the buying position, nine indicators on the neutral position, and only three indicators on the selling position.

The Oscillators are going neutral for the day as there are eight oscillators standing on the neutral mark, two oscillators are on the selling mark while only one oscillator is on the buying mark. The moving averages indicator is also confirming a bullish trend by a strong buying signal. We can see 13 indicators on the buying side, while one indicator each is present on the selling and neutral sides.

Celo price analysis: conclusion

The one-day and four hours Celo price analysis is confirming that the price underwent a reduction during the last 24 hours. That is because the bears have been able to make a successful comeback despite the ongoing uptrend. Their aim was fulfilled as the price dropped down to its former low i.e. $6.73. Further decline in CELO/USD price can be expected as the hourly prediction is dictating a downtrend as well.

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