Celsius (CEL) experienced an exceptional 300% growth in one month. The coin has now stabilized, and its direction is currently unclear.
Celsius Fundamentals
Similar to a bank, Celsius (CEL) borrows from one set of clients, lends to others, and profits from the difference between the interest rate. However, CEL mostly works in the crypto space as it mainly borrows and lends in crypto. Additionally, it does not have any government deposit insurance, making it riskier than a traditional bank.
Celsius on the Chart
Celcius experienced an exceptionally long ranging period this year from July to September. On September 10th, the price finally made a breakthrough, and CEL experienced an outstanding 300% growth in a single month. The coin reached an all-time high of $1.5. CEL is now stabilizing between $1.2 and $1.5.
Due to the swift and strong growth, the coin hasn’t created any support level on its way up. Therefore it is now in danger of failing all the way down to the $0.5 and $0.35 support levels.
An indicator that you can use to get early buy and sell signals on the daily chart is the MACD. The MACD indicates a buy signal when the histogram turns green and a sell signal when it turns red. The indicator works well to identify bull runs early and sell relatively close to the high. The MACD can be classified as both a trend-following and momentum indicator. Like all trend-following indicators, it tends to perform poorly in ranging markets.
Looking Ahead: The MACD is now about to turn red, indicating that the bull run may end. Since no support levels were established, it is better to time your next entry with technical indicators rather than support levels.
Celsius Fundamentals
Similar to a bank, Celsius (CEL) borrows from one set of clients, lends to others, and profits from the difference between the interest rate. However, CEL mostly works in the crypto space as it mainly borrows and lends in crypto. Additionally, it does not have any government deposit insurance, making it riskier than a traditional bank.
Celsius on the Chart
Celcius experienced an exceptionally long ranging period this year from July to September. On September 10th, the price finally made a breakthrough, and CEL experienced an outstanding 300% growth in a single month. The coin reached an all-time high of $1.5. CEL is now stabilizing between $1.2 and $1.5.
Due to the swift and strong growth, the coin hasn’t created any support level on its way up. Therefore it is now in danger of failing all the way down to the $0.5 and $0.35 support levels.
An indicator that you can use to get early buy and sell signals on the daily chart is the MACD. The MACD indicates a buy signal when the histogram turns green and a sell signal when it turns red. The indicator works well to identify bull runs early and sell relatively close to the high. The MACD can be classified as both a trend-following and momentum indicator. Like all trend-following indicators, it tends to perform poorly in ranging markets.
Looking Ahead: The MACD is now about to turn red, indicating that the bull run may end. Since no support levels were established, it is better to time your next entry with technical indicators rather than support levels.