Will Celo Crypto Achieve $1 Mark in 2024?

CELO price prediction is mildly bullish for December and suggests that this crypto might perform well in the long run. 

It formed a strong base near $0.450 and absorbed the majority of the selling pressure. It shows that buyers are active at the lower level and are continuing their dominance. 

In the recent rally, Celo crypto price succeeded in climbing above the 50-day and 200-day EMA. It indicates that the short-term and long-term trend has reversed upward. 

Meanwhile, the sudden surge in the buying volume is also visible in the volume bars. It denotes big players have turned bullish and have decided to allocate a small portion of their portfolio to CELO. 

The volatility in the price is also on the rise which increases the risk of the fake breakout and breakdown. However, the recovery in the price looks reliable. So, till it holds the $0.450 level, the price may show a bounce. 

At press time, CELO price is consolidating in the narrow range and buyers are attempting to break out of the $0.600 hurdle. If they succeed then Celo may begin the journey to reach the $1.00 mark. 

Currently, Celo price is trading at $0.0534 with an intraday decline of -0.37%.

Is CELO Price Getting Ready for a Massive Upmove?

CELO price prediction favors the bulls and suggests recovery will continue in December. The chart structure of this crypto looks positive and is forming a bullish pattern. 

In this month, Celo price rose 10% and came out of the three-month-long consolidation. So, the possibility of continuing the upward momentum remains high. 

Till the Celo crypto sustains above the 200-day EMA, any minor correction will be brought up. Therefore, investors need to look to build longs in Celo to generate nominal returns. The analysis suggests that this crypto is in bulls’ grip and it may show a sharp rise anytime.

When Will the Next Phase of Rally in Celo Price Trigger?

Celo price formed a bullish hammer candle in the last three consecutive weeks. It shows the strength and confidence of the bulls for the future outlook of this crypto. 

The next phase of the rally in Celo will trigger when buyers are able to break out of the $0.682 hurdle. 

The MACD curve taking support near zero and sloping sideways denotes range-bound trading may continue for a few more sessions. The RSI at 51 also denotes neutral territory and the consolidation may be visible. 

Conclusion

CELO price prediction is bullish for December as well as for the next year. However, the price will pick up momentum when it breaks out of the $0.682 hurdle. 

The analysis suggests that Celo crypto is in the bulls’ grip. So, it might perform well in 2024 and may go beyond the $1.00 mark. 

Technical Levels

• Resistance levels: $0.682 and $0.750
• Support levels: $0.477 and $0.389

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.