Can Bulls Make a Comeback?

Celsius price witnessed a steep fall in the past week thus eroding a total of over 30% of its market cap. Moreover, the daily chart shows that the price respected a positive trendline as a support and tested multiple times. 

Recently, the bears successfully broke below the trendline support and slumped down. The price is gradually nearing the previous demand zone from where an upbeat in the price is likely to occur.

Celsius is a crypto platform which provides banking and financial services to the users. It rewards the users for depositing crypto and offers loans and payments with low fees. 

It also has a token named “CEL” which enhances the user experience and benefits. It competes with traditional banks by offering better terms and conditions for their customers. It also operates as a wallet and a lender to institutional investors. It ensures the security of its payments by requiring collateral from borrowers.

The short term has turned negative after the bears successfully broke below the trendline support. The price may continue to drop until it reaches any major support zone.

Moreover, the long trend seems to be neutral until the price can break below the immediate support of $0.176. The bulls may attempt to keep the price trend in their favor and try to surge from the demand zone. 

The technical indicators imply a bearish outlook in the short term. The CEL crypto is trading below the 50-Day and 200-Day EMAs, highlighting weakness on the charts. 

At the time of writing, the RSI was at 36.05 and the SMA line was at 44.39. The RSI line has fallen below the mean line and shows a bearish crossover of the SMA line indicating a negative outlook. 

Celsius Price Prediction 2024

The price prediction of CEL crypto for  2024 shows that the analysts are bearish about the short term trend and expect that the price may reach a high of $0.334 by the year end. Moreover, the bearish view of analysts expects the price to reach $0.129 by 2024. 

Celsius Price Prediction 2025

The most optimistic analyst forecast for the Celsius cryptocurrency expects the price to reach a high of $0.443 with a potential gain of 134.4% from the CMP. The minimum forecasted price by the end of 2025 is $0.315.

Celsius Price Prediction 2026

Over the next two years, the Celsius crypto may attain a high of $0.601. Whereas, the lowest price that the crypto may attain is $0.358.

Celsius Price Prediction 2027

As per the analysts, the most optimistic price target that the CEL crypto may achieve by 2027 is $0.824. On the other hand, the lowest price target is $0.616. 

Celsius Price Prediction 2028

The most optimistic price target that CEL token may achieve by the end of financial year 2028 illustrates that the price may attain a high of $1.128. On the other hand, the pessimistic view of analysts expects the price to reach $0.898 by 2028. 

Disclaimer

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

Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.