- August 9, 2022
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
The Celsius Token (CELUSD) broke today above its 1D MA200 (orange trend-line) for the first time since September 07 2021. It is important to see the price close above that level too, as technically a lot of investors could take profits aggressively here. In that case, expect a pull-back to the 1D MA50 (blue trend-line) and sustainable trading within the Channel Up that started after the June 13 Low.
A closing above the 1D MA200 though, should be enough to catapult the price towards the Resistance Zone of February – March 2022. It would be best to take a short-term buy break approach and target the upper Fibonacci levels (1.382, 1.5, 1.618). At the same time, the MACD on the 1W time-frame is way past its May/ June oversold state, at the highest levels since July 04 2021, giving a strong indication that the Bear Cycle is over.
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