Celo looks like it's in a good position for a good run-up, but this is only the case if bitcoin goes lower. During the recent bitcoin dip, Celo was going off and from this chart, it looks like it has formed a falling wedge. It has held support on the RSI trendline on both the daily and 4-hour charts. All signs showing that this asset may break to the upside. I'm keeping an eye on this for now as this can move in either direction depending on bitcoin.
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Looks like it also fulfilled the cup and handle pattern, we could be seeing it hit the current high levels of $4 first and consolidate before another break through the resistance. Possibly towards the $6 range.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.