On June 04th, Celsius reached a high of $8.00. Following this peak, the price declined by 98%, hitting a low of $0.0857 on June 10, 2023.
After reaching the new low, CEL traded in a consolidation zone below $0.4500 for nearly nine months.
On May 5th, the consolidation phase ended, and the #Celsius price surged by 155% within seven days.
Subsequently, the price dipped by 54%, finding support around $0.50.
Yesterday, a long bullish candle formed, with the price increasing by 170%, reaching levels not seen since September 2022.
CEL is currently forming a Tweezer top candle on the daily chart.
As per Coin Gabbar analysis, If $CEL breaches yesterday's high and the psychological level of $1.50, the price can test $2.00.
If the bulls fail to breach the upper level, a pump-and-dump scenario might occur, potentially driving the price below $1.00.
KEY LEVELS :
RESISTANCE LEVEL : $1.5000-$2.0000
SUPPORT LEVEL : $0.8500-$0.5000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
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