Celo Price Prediction 2022 — Will CELO Hit $0.8 Soon?
Bullish CELO price prediction is $0.755 to $2.047.
Celo (CELO) price might also reach $0.8 soon.
CELO bearish market price prediction for 2022 is $0.414.
In Celo (CELO) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about CELO to analyze the future movement of the cryptocurrency.
Celo (CELO) Current Market Status
According to CoinGecko, the price of Celo (CELO) is $0.524 with a 24-hour trading volume of $10,619,424 at the time of writing. However, CELO has increased nearly 0.9% in the last 24 hours.
Moreover, Celo (CELO) has a circulating supply of 478,832,129 CELO. Currently, Celo (CELO) trades in cryptocurrency exchanges such as Binance, Coinbase Exchange, Kucoin, Bittrex and OKX.
What is Celo (CELO)?
Celo (CELO) is the native cryptocurrency of the Celo blockchain. Celo is a blockchain protocol that seeks to use phone numbers to provide a worldwide payments system. The protocol aims to proxy public keys using phone numbers. Its mainnet was launched in April 2020. It is based on the proof-of-stake (PoS) consensus mechanism.
The blockchain permits the creation of smart contracts and decentralized applications (DApps). Users can take part in network consensus and pay for on-chain transactions using it as a utility token. CELO is used for transaction fees, governance participation and related activities.
Celo (CELO) Price Prediction 2022
Celo (CELO) holds the 114th position on CoinGecko right now. CELO price prediction 2022 is explained below with a daily time frame.
The above chart of CELO laid out an Ascending triangle pattern. The ascending triangle is a characteristic pattern of an ongoing bullish trend. This triangle is formed by a horizontal upper trendline that connects the highs and the lower trendline that connects the rising lows. If the trend breakout at the resistance level, the price will continue to move up in this ascending triangle pattern.
Currently, Celo (CELO) is in the range of $0.525. If the pattern continues, the price of CELO might reach the resistance levels of $0.755. If the trend reverses, then the price of CELO may fall to $0.414.
Celo (CELO) Support and Resistance Levels
The chart below shows the support and resistance levels of Celo (CELO).
From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Celo (CELO).
Resistance Level 1$1.180Resistance Level 2$2.047Support Level 1$0.661Support Level 2$0.426CELO/USDT Support and Resistance Levels
The charts show that Celo (CELO) has performed a bullish trend over the past month. If this trend continues, CELO might run along with the bulls overtaking its resistance level at $2.047.
Accordingly, if the investors turn against crypto, the price of Celo (CELO) might plummet to almost $0.426, a bearish signal.
Celo (CELO) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of Celo (CELO) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of CELO lies below the cutoff line, indicating weaker participants in the current trend.
Also, the Moving Average (MA) of Celo (CELO) is shown in the chart above. Currently, CELO is in a bullish state. Notably, Celo (CELO) price lies below 50 MA (short-term), so it is completely in a downtrend. Therefore, there is a possibility of a reversal trend of CELO at any time.
Meanwhile, the relative strength index (RSI) of the Celo (CELO) is 40.05. This means that Celo (CELO) is in an nearly oversold state. However, this means a major price reversal of CELO may occur in the upcoming days. So, traders need to trade carefully.
Celo (CELO) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of Celo (CELO). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Celo (CELO). Currently, ADX of CELO lies in the range of 37.834, so it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of Celo (CELO). RVI measures the constant deviation of price changes over a period of time. The RVI of CELO lies below 50, indicating low volatility. In fact, the RSI of Celo (CELO) is at 40.05, thus confirming a potential sell signal.
Comparison of CELO with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and The Celo (CELO).
From the above chart, we can interpret that the price changes of BTC, and CELO are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of CELO also increases or decreases respectively.
Celo (CELO) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, Celo (CELO) might probably attain $1 by 2023.
Celo (CELO) Price Prediction 2024
With several upgrades in the network, Celo (CELO) might enter a bullish trajectory. If the coin grabs the attention of major investors, CELO might rally to hit $4 by 2024.
Celo (CELO) Price Prediction 2025
If Celo (CELO) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, CELO would rally to hit $9.
Celo (CELO) Price Prediction 2026
If Celo (CELO) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, CELO would rally to hit $12.
Celo (CELO) Price Prediction 2027
If Celo (CELO) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, CELO would rally to hit $15.
Celo (CELO) Price Prediction 2028
Despite the trends in the highly-volatile crypto market, if Celo (CELO) holds up a strong stance as a better investment option for the next 6 years, it might drive significant price rallies. Thus, by 2028, CELO would hit $20.
Celo (CELO) Price Prediction 2029
If investors flock in and continue to place their bets on Celo (CELO), it would witness major spikes. CELO might hit $23 by 2029.
Celo (CELO) Price Prediction 2030
With greater advancements in Celo platform, the crypto community might continue to invest in CELO for the next 8 years and drive significant price rallies for the token. Hence, Celo (CELO) might hit $27 by 2030.
Conclusion
With continuous improvements in the Celo network, we can say that 2022 is a good year for CELO. For this reason, the bullish price prediction of Celo (CELO) in 2022 is $2.047. On the other hand, the bearish price prediction of Celo (CELO) price prediction for 2022 is $0.414.
Furthermore, with the advancements and upgrades to the Celo ecosystem, the performance of CELO would help to reach above its current all-time high (ATH) of $9.82 very soon. But, it might also reach $0.8 if the investors believe that CELO is a good investment in 2022.
FAQ
Celo (CELO) is the native cryptocurrency of the Celo blockchain. It is a blockchain protocol that seeks to use phone numbers to provide a worldwide payments system. It is based on the proof-of-stake (PoS) consensus mechanism.
Celo (CELO) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, Kucoin, Bittrex and OKX.
With the ongoing developments and upgrades within the CELO platform, it has a high possibility of reaching its ATH soon.
On Aug 30, 2021, CELO reached its new all-time high (ATH) of $9.82.
Celo (CELO) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of CELO in the past few months, CELO is considered a good investment in 2022.
Celo (CELO) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Celo (CELO) will hit $0.8 soon.
Celo (CELO) price is expected to reach $1 by 2023.
Celo (CELO) price is expected to reach $4 by 2024.
Celo (CELO) price is expected to reach $9 by 2025.
Celo (CELO) price is expected to reach $12 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Filed under: Bitcoin - @ December 18, 2022 1:00 pm