<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>CELO’s price is currently trading at $0.449 while witnessing a loss of 1.75% during the intraday trading session.</a> </li> 
 <li> <span>2</span> <a>CELO price has climbed above the 20 and 50-day exponential moving averages.</a> </li> 
 <li> <span>3</span> <a>The year-to-date return of CELO is -5.47%, while the monthly return is 6.15%.</a> </li> 
</ul> 
<p>The price of the CELO cryptocurrency has been on a downtrend since the end of February, falling from the annual high of $0.922 which was formed on 20 February. The cryptocurrency’s price has notably declined and recently broke the significant psychological level of $0.50.</p> 
<p>CELO’s price is currently within a narrow consolidation zone between $0.40 and $0.46. The previous candle attempted to close above the resistance level of $0.46 but failed to do so. The current candle broke the previous candle’s high but has now turned bearish, indicating the sellers do not want the price to rise above $0.50.&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="607" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-623-1024x607.png" alt="CELO Price Prediction: Will CELO Price Continue To Consolidate?" class="wp-image-169999" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-623-1024x607.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-623-300x178.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-623-768x455.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-623-750x444.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-623-1140x675.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-623.png 1362w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: CELO/USDT By <a href="https://www.tradingview.com/x/LSXoTlpu/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The current candle has also broken the previous candle’s low and is now headed toward the next support level of $0.42. If bulls can push the price above the $0.46 resistance level, the price might head toward the next resistance level of $0.50.&nbsp;</p> 
<p>Traders should wait for a candle to close above $0.46 as the price has shown several fakeouts before. Overall, the price action and market structure show a strong confluence of bears over the price. The current scenario also shows that a bullish move is unlikely to play out.&nbsp;</p> 
<p>On the other hand, if the bearish momentum prevails, CELO’s price might melt down to the recent significant support of $0.40. If the price shatters this support level, it might fill the lower wick of the 10 June candle and fall toward $0.35.&nbsp;</p> 
<p>The market capitalization of CELO has decreased by 2.01% to $228,461,555 at the time of writing. The 24-hour trading volume has increased by 63.79%. The price is down 95.81% from the all-time high of $10.66 and is up 19.55% from the all-time low of $0.3732.</p> 
<p>The market leader, Bitcoin, has also declined by 1.43% today, shifting the trend to a bearish one for all altcoins.</p> 
<h3 class="wp-block-heading" id="strong-will-celo-price-fall-to-0-40-strong"><strong>Will CELO Price Fall To $0.40?</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="607" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-622-1024x607.png" alt="CELO Price Prediction: Will CELO Price Continue To Consolidate?" class="wp-image-169998" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-622-1024x607.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-622-300x178.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-622-768x455.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-622-750x444.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-622-1140x675.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-622.png 1362w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: CELO/USDT By <a href="https://www.tradingview.com/x/xbTSrFrZ/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>. 
  </figcaption> 
 </figure> 
</div> 
<p>The <a href="https://www.thecoinrepublic.com/2023/06/13/celo-price-analysis-will-celo-price-escape-current-peril/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency’s price</a> has climbed above the 20-day exponential moving average (EMA) but has now declined. It will soon cross it negatively if bearish momentum persists, which would indicate a rise in sellers’ participation.&nbsp;</p> 
<p>The chaikin money flow score has plunged below the 0 mark and currently trades at -0.04, suggesting slight weakness in the market. The relative strength index surged above 55 but now has a downward trajectory.&nbsp;</p> 
<p>The long-short ratio is 0.83, with 45.55% longs and 54.45% shorts, suggesting a higher position of sellers in the last 24 hours.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>The price action and market structure of CELO are turning bearish after the bullish rally. Technical parameters favor the selling side, but traders should wait for the candle to close.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels</strong></h5> 
<p>Major support: $0.40 and $0.35</p> 
<p>Major resistance: $0.50 and $0.53</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

CELO Price Prediction: Will CELO Price Continue To Consolidate?

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