Can #CELO Bulls Maintain the Current Bullish Momentum Or Not?

1 déc.

Yello, Paradisers! Is #CELOUSDT gearing up for a breakout or will we see a reversal? Let’s break down the current setup for #CELO and what it could mean for traders:

💎#CELO is showing a textbook cup-and-handle pattern on the daily timeframe, signaling a potential bullish continuation. Currently, the price is hovering around the $0.9437 level, with key resistance lying at the $1.10-$1.30 supply zone. A decisive breakout above this zone could spark a strong rally and attract fresh buyers into the market.

💎If #CELO clears the supply zone, the next target lies around the $1.80-$2.20 range, aligning with the measured move of this pattern. This breakout would confirm a major shift in market sentiment, signaling renewed strength for the bulls and marking a significant milestone for CELO’s recovery.

💎On the flip side, if the price fails to break above the supply zone, it could retest the support zone at $0.733. If the support zone also fails, such a move could trigger a selloff toward $0.58 demand zone, reinforcing bearish sentiment.

💎There should be a bounce from the demand zone. However, losing this level will transfer control to bears for a deeper retracement before any potential rebound.

Stay focused, patient, and disciplined, Paradisers🥂

MyCryptoParadise
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