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Celsius Network Price Prediction - Is the price going up now?

 


Despite an extremely bearish outlook and a price decline of around 95% in the last three months, the Celsius Network price could rise sharply in the short term.


Celsius Network price fell around 95% in the last three months

The Celsius Network course is not making investors happy right now. The second largest loan position, Celsius, could well be on the verge of liquidation :


“On MakerDAO,  Celsius has  borrowed a total of 278 million stablecoins from DAI. 2.5 times as much as the second largest lender Nexo , which made an offer to take over Celsius. On top of the 278 million DAI borrowed, there is around 18,000  bitcoin  as collateral – an equivalent of $480 million.”


This is also reflected in the price, as the Celsius Network price has fallen more than 95% in the last three months. Nevertheless, the CEL price could fall much lower, there is almost unlimited downside potential.


Daily chart gives bullish hope for Celsius Network price

Despite the fundamentally bearish outlook, there is currently a very bullish sign in the daily chart. While the EMAs are still in a bearish death cross, the MACD lines are bearishly crossed and the histogram is ticking bearishly lower, the RSI is showing massive bullish divergence. The CEL price has already reacted to this, because CEL has already risen by around 87% in the last 24 hours.


A bullish divergence is also emerging on the weekly chart

However, the bullish divergence in the RSI is not only reflected in the daily chart, but also in the weekly chart. The Celsius Network Token could rise to around USD 0.44 or even to the golden ratio at around USD 0.6. There, the CEL course encounters significant Fibonacci resistance and will continue the downtrend in the course of a bearish rejection.


Against BTC, Celsius Network has significant support

Against BTC, the Celsius Network course is currently bouncing off the support between 0.0000054 and 0.0000065 BTC. At around 0.000019 BTC and 0.000027 BTC, the next significant Fibonacci resistances are waiting for the CEL course.


The NEXO course is not much more bullish

The NEXO price is also very bearish. Significant support is currently expected for the NEXO price between USD 0.43 and USD 0.76. If NEXO is already bouncing off, the next significant Fibonacci resistance is waiting for NEXO at around USD 1.8.


Disclaimer

All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general information purposes only. Any action that the reader takes based on the information found on our website is entirely at their own risk.

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