CELO is the finest performer amongst the high 100 cryptocurrencies by market cap today.
The broader crypto market has misplaced roughly 3% of its worth in the final 24 hours.
Bitcoin may drop into the $15k zone if the bearish momentum continues
CELO outperforms the main cryptocurrencies
CELO, the coin that powers the Celo blockchain, is main the market cost today. The coin is the finest performer amongst the high 100 cryptocurrencies by market cap, including greater than 16% to its worth in the final 24 hours.
There is not any catalyst behind this newest rally. However, CELO has been rallying since Celo introduced a partnership with Ethereum software program agency ConsenSys final week.
According to the phrases of the partnership, Celo will combine with ConsenSys’ Infura infrastructure. Over the final seven days, CELO has soared by 52%, outperforming the different main cryptocurrencies in the course of.
The rally comes as the broader crypto market retreats. The whole crypto market cap stands at $817 billion, down by practically 3% in the final 24 hours. Bitcoin, the world’s main cryptocurrency by market cap, has additionally misplaced 2% of its worth.
At press time, the price of Bitcoin stands at $16,206 and will drop into the $15k zone if the bearish pattern continues. The price of Ethereum stands at $1,173, down by greater than 3% up to now today.
Key ranges to observe
The CELO/USD 4-hour chart is bullish as Celo has been performing excellently over the final 24 hours. The technical indicators present that CELO has been outperforming the broader crypto market over the previous few days.
The MACD line is deep inside the optimistic zone, indicating that the bulls have been answerable for the CELO market for some time now. The 14-day RSI of 69 reveals that CELO may enter the overbought area if it may embark on a sustained bullish run.
At press time, CELO is buying and selling at $0.6465. CELO may surge previous the first main resistance degree at $0.7898 earlier than the finish of the day if the bullish momentum is maintained.
In the occasion of an prolonged bullish run, CELO may rally towards the $0.9176 resistance degree for the first time since September.
Where to purchase Celo now
eToro
eToro gives a variety of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro customers can join with, study from, and replica or get copied by different customers.
Uphold
Uphold is a platform which has over 50 cryptocurrencies to select from.
It’s customers could make crypto trades with a checking account, bank card or crypto debit card. It has variable charges and permits customers to automate trades.
Users who’re on Brave’s web browser may earn BAT tokens primarily based on their shopping habits.
