CELO is currently in a bearish trend and has been moving within a descending channel for approximately 141 days. The chart clearly shows the price making lower highs and lower lows, respecting the boundaries of this channel.
At the moment, the price is positioned near a critical juncture where it could potentially break out of this descending channel, signaling a reversal. For a bullish move to occur, CELO must break above the channel’s upper boundary. This resistance has acted as a barrier to the price, preventing any significant upward movement.
On the other hand, if the price fails to break this resistance and continues downward, it is likely to test the lower support of the descending channel.
Traders should monitor the price action closely, especially looking for a breakout above the descending channel, which would be a strong indicator of a potential bullish reversal. An increase in trading volume would provide further confirmation of this move.
Everything is on the chart.
At the moment, the price is positioned near a critical juncture where it could potentially break out of this descending channel, signaling a reversal. For a bullish move to occur, CELO must break above the channel’s upper boundary. This resistance has acted as a barrier to the price, preventing any significant upward movement.
On the other hand, if the price fails to break this resistance and continues downward, it is likely to test the lower support of the descending channel.
Traders should monitor the price action closely, especially looking for a breakout above the descending channel, which would be a strong indicator of a potential bullish reversal. An increase in trading volume would provide further confirmation of this move.
Everything is on the chart.
Ghi chú
CELO is moving according to our plan. After 141 days CELO breaks the descending channel. 
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.