CELOUSD on a strong bullish fractal of the past.

Celo (CELOUSD) is above its 1D MA200 (orange trend-line), supported by the 1D MA50 (blue trend-line) since January 12. With the 1W RSI on Higher Lows, the Bear Cycle seems over and will officially get confirmed after it breaks above the November 28 High (0.9225).

We have already spotted two previous fractals that so far are very similar to the price action since the November 14 Low. Both of those sequences reached at least the 2.0 Fibonacci extension before retracing. The current 2.0 Fib is a little under 1.9000, which is our medium-term target on CELO from now on.


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