Celer Network (CELR) Technical Analysis 2021 for Crypto Traders

CELR is a new project aiming to develop a global, decentralized network for smart contracts. The project’s goal is to create a new distributed computing model capable of supporting the smart contract, which should greatly improve the performance of private and consortium distributed applications. The Celer Network should also provide a range of new features, such as decentralized storage, authentication, authorization, data transfer, and agreement, which are not available today in the public blockchain space.

The cryptocurrency market has been on fire lately, and there are many different coins that are performing well. However, many coins are simply just valued at the current prices, while some coins are valued at more than their initial release price. One coin that falls into this category is Celer Network (CELR), which is also one of the most undervalued coins in the market.

It is a common practice among most cryptocurrency traders to monitor the price movements of the coins they’ve invested in. The most successful traders monitor the price movements of two or more cryptocurrencies in order to identify any potential pattern. In this article, we will mark the price movements of Celer Network with a pair of candlesticks.

We utilize historical data, price analysis, RVOL, MA, and other information about CELR to evaluate the cryptocurrency’s future trend in Technical Analysis of Celer Network (CELR) for 2021. 

Celer Network is a layer-2 scaling platform aimed at making off-chain payments and generalized off-chain smart contracts quick, simple, and safe. The project’s aim is to create “mass acceptance for blockchain” via a frictionless experience based on layer-2 scalability technologies.

Current Market Situation for Celer Network (CELR)

At the time of writing, the CELR price was $0.043 with a 24-hour trading volume of $40,576,815 according to CoinGecko. CELR, on the other hand, has fallen to 1.24 percent in the past 24 hours.

In addition, there are 5,748,480,630 CELR coins in circulation. CELR is traded on Binance, OKEx, CoinTiger, Hotcoin Global, and HitBTC at the moment. 

Celer Network (CELR) Technical Analysis 2021 

Celer Network (CELR) is currently ranked 227th on CoinGecko. CELR may be pushed to new heights by current development and improvements. Let’s take a closer look at the CELR technical analysis for 2021. Celer Network (CELRdaily )’s time frame chart is given below.

Ascending Scallop Pattern (CELR/USDT) (Source: Tradingview)

An ascending scallops pattern may be observed during a bullish rise. This pattern seems to be in the form of a J with a little rightward slant. A downward breakout happens below the pattern’s low, while an upward breakout occurs above the pattern’s maximum high.

The idea also explains why there is a price decrease at the beginning of the pattern. The descent is smaller, and it reverses, giving the bottom a broader appearance. The price increases even more after the reversal, and the whole pattern resembles a slanted J.

CELR is currently trading in a $0.043 range. If the current trend continues, the price will rise to the $0.10 level. If the trend changes to the downside, the price will fall below the $0.019 support level.

RSI for Celer Network (CELR)

CELR’s relative strength index (RSI) is shown in the graph below. 

The RSI is still at 51.33, as seen in the chart above. This indicates that CELR is neither overbought nor oversold. This demonstrates the need of traders trading cautiously, since a big price reversal may occur.

RVOL Celer Network (CELR)

The Relative Volume of CELR is shown in the graph below. It’s a metric that shows traders how the current trading volume has evolved over time in comparison to the prior trading volume.

The RVOL of CELR is now below the cutoff line, indicating the weaker participation in the current trend.

Moving Average of the Celer Network (CELR)

The Moving Average (MA) of Celer Network is shown in the graph below. MA aids traders in identifying patterns.

CELR is now in a bullish mode. CELR, on the other hand, is trading close to the 50 MA (short-term), and it is currently trading around the 200 MA. CELR may be able to rise over 200 MA (long-term) in the near future.

It fully changes to a bullish condition if it climbs over the 200 MA level. Furthermore, there is a significant chance of a trend reversal at any moment.

Comparison between Celer Network (CELR) vs Bitcoin

The price comparison between CELR and BTC is shown in the graph below. 

Celer Network (CELR) Technical Analysis 2021 for Crypto TradersChart comparing the prices of CELR and BTC (Source: TradingView)

The trend of the BTC can be seen on the chart, and CELR is going in lockstep with the trend. This means that if the price of BTC rises or falls, the price of CELR rises or falls in lockstep.

Conclusion

As part of the CELR platform’s continuous development and improvements. Celer Network has a bright future in the cryptocurrency industry. CELR, on the other hand, has the potential to soar to new heights.

The price estimate for CELR in 2021 is $0.10. As previously said, it has the potential to achieve tremendous heights; nevertheless, if investors believe that CELR is a solid investment in 2021, it may reach $0.35.

FAQ

What is Celer Network, and how does it work?

Celer Network is a layer-2 scaling platform aimed at making off-chain payments and generalized off-chain smart contracts quick, simple, and safe.

Where may CELR be purchased?

Binance, OKEx, CoinTiger, Hotcoin Global, and HitBTC are just a few of the cryptocurrency exchanges that have CELR listed.

Will CELR soon hit a new ATH?

With the CELR platform’s continuous development and improvements, it has a good chance of achieving its ATH shortly.

Disclaimer: The views stated in this graph are entirely those of the author. It should not be construed as investment advice. Before investing, TheNewsCrypto staff advises everyone to conduct their own research.

In the world of crypto, analysts predict a different future for CELR. In the last 2 months, analysts predict a movement from 16.67% to 20.00% from a range of 5.00 to 10.00. When we look at the 1 Day Chart from 24 hours to 1 day, a similar movement is observed, from a range of 3.10 to 5.50.. Read more about celer network coinbase and let us know what you think.

Celer Network is a very good investment for the future."}},{"@type":"Question","name":"Is Celer crypto a good investment?","acceptedAnswer":{"@type":"Answer","text":" Celer is a cryptocurrency that was created in 2017. It has a market capitalization of $3,764,856 USD and a circulating supply of 706,959,847 CELR."}},{"@type":"Question","name":"What is CELR crypto?","acceptedAnswer":{"@type":"Answer","text":" CELR is a cryptocurrency that has been created to help fund the development of Celer Network."}}]}

Frequently Asked Questions

Is Celer Network a good investment 2021?

Celer Network is a very good investment for the future.

Is Celer crypto a good investment?

Celer is a cryptocurrency that was created in 2017. It has a market capitalization of $3,764,856 USD and a circulating supply of 706,959,847 CELR.

What is CELR crypto?

CELR is a cryptocurrency that has been created to help fund the development of Celer Network.

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