TheCoinRepublic

CEL Bulls stuck in sideways zone despite bullish trend

BITTREX:CELUSDT   Celsius Network / Tether
The price of Celsius Network is stuck in a tight narrow range, which forces it to avoid investing for the time being.
The Celcius Network price action suggests the ascending triangle pattern in the higher time frame,

The 100-EMA has been standing as a strong resistance line for a long time and recently, the bulls managed to break above it but failed to stay above it. Hence, CEL price is trading below the 200 and 100 EMAs and the price is moving towards the 50 day moving average.

The RSI is about to reach the halfway mark (50 points) in terms of the daily price chart. The halfway line could possibly act as further support for the CEL price.

Thus, the Average Directional Index ( ADX ) is at 10-level and suggesting the extremely sideways momentum for the Celsius network.

Celsius Network price action suggests a bullish trend on the higher time frame; On the slip side, the price seems to be weak on the hourly chart. There will be no directional spike as long as the price continues sideways.

Resistance level- $4.5 and $6.0
Support level- $2.7 and $2.0

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