Celsius / US Dollar Cryptocurrency Forecast
High volatility in Celsius / US Dollar cryptocurrency price on Monday which ended trading at $0.540
(Updated on May 06, 2024)
The Celsius / US Dollar cryptocurrency price gained 11.25% on the last trading day (Monday, 6th May 2024), rising from $0.485 to $0.540. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 26.52% from a day low at $0.515 to a day high of $0.651. The price has risen in 6 of the last 10 days and is up by 257.4% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 million more shares were traded than the day before. In total, 62 million shares were bought and sold for approximately $33.73 million.
The cryptocurrency has broken the very wide and weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $0.379, a level that may pose a second chance to hit a runner. According to fan-theory $0.626 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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CELUSD Signals & Forecast
The Celsius / US Dollar cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.308 and $0.208. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 309.58%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Celsius / US Dollar cryptocurrency
On the downside, the cryptocurrency finds support just below today's level from accumulated volume at $0.485. With no support from accumulated volume below today's level the risk is increased, as a drop below the support at $ may give a huge drop in the cryptocurrency price.
This cryptocurrency may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this cryptocurrency is considered to be "very high risk". During the last day, the cryptocurrency moved $0.137 between high and low, or 26.52%. For the last week, the cryptocurrency has had daily average volatility of 35.99%.
The Celsius / US Dollar cryptocurrency is extremely overbought on RSI14 (86). Normally this may pose a good selling opportunity but since the cryptocurrency has broken the trend up, the chance for a major correction due to high RSI is very small as the cryptocurrency will find support at the trend broken.
Our recommended stop-loss: $0.522 (-3.28%) (This cryptocurrency has very high daily movements and this gives very high risk. The RSI14 is 86 and this increases the risk substantially. There is a buy signal from a pivot bottom found 6 days ago.)
Trading Expectations (CELUSD) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect Celsius / US Dollar to open at $0.569, and during the day (based on 14 day Average True Range), to move between $0.480 and $0.600, which gives a possible trading interval of +/-$0.0603 (+/-11.17%) up or down from last closing price. If Celsius / US Dollar takes out the full calculated possible swing range there will be an estimated 22.34% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.485, some $0.0546 (10.11%) from the current price of $0.540, our system finds the risk reward attractive.
Is Celsius / US Dollar cryptocurrency A Buy?
Celsius / US Dollar holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Celsius / US Dollar of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $0.569 ( 5.34%) | $0.540 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CELUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.705 | 30.63 % | |
| R2 | 0.653 | 20.97 % | ||
| R1 | 0.621 | 15.01 % | ||
| Current price: | 0.540 | |||
| Support | S1 | 0.517 | -4.32 % | |
| S2 | 0.484 | -10.28 % | ||
| S3 | 0.432 | -19.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.540 | |||
| Support | S1 | 0.485 | -10.11% | |
| S2 | 0 | . | ||
| S3 | 0 | . |
FAQ
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