Celer Network (CELR) Testing Falling Wedge Resistance: Could a Breakout Trigger a Rally?
Market Overview: The cryptocurrency market is experiencing a surge in altcoins, particularly Celer Network (CELR), following Ethereum's breakout and a decline in Bitcoin's dominance, which now stands at 58.74%.
Technical Analysis: Analyst Jonathan Carter indicates that CELR is nearing a bullish reversal, with potential price targets if it breaks above current resistance levels; however, failure to do so may lead to a pullback towards support.
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Technical Analysis for CELR
Technical Sentiment Analysis for Celer Network (CELR) As of , Celer Network (CELR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CELR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, CELR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Celer Network (CELR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0011 | 0.00164 | 0.00216 | 0.0027 | 0.00322 | 0.00376 | 0.00428 |
| Fibonacci | 0.00164 | 0.00204 | 0.00229 | 0.0027 | 0.0031 | 0.00335 | 0.00376 |
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