CELER TETHER ⚠️ Can CELR's Bull Run Continue After a Pullback?
💬 Celer (CELR) was red hot when it first IEO'd on Binance. It looks like the Celer love is back after a MainNet update and some bullish price action.
Can this bad boy of Binance bust out of its overhead resistance, or is it back to cellar for this one? Let's take a look at some levels to find out.
Hit that 👍 button to show support for the content!
Help the community grow by giving us a follow 🐣
-----
Support:
-----
Summary:
There is every reason to be bullish on CELR here if the bulls can stay above S1 and break the cycle of lower highs. Even if the bears manage to defend R1 or R2, there are gains to be had in the meantime. Good luck people and make sure to manage risk accordingly to your own strategy!
Resources:[/I]
blog.celer.network/2020/07/10/light-up-the-world-with-celer-network-state-channel/
✨Drop a comment asking for an update, we do NEW setups every day!✨
Can this bad boy of Binance bust out of its overhead resistance, or is it back to cellar for this one? Let's take a look at some levels to find out.
Hit that 👍 button to show support for the content!
Help the community grow by giving us a follow 🐣
-----
Support:
- S1: The S1 S/R Flip and continuation range is our primary support and where the bulls will want to defend price. As long as we stay at S1 or above, it is only a matter of time before resistance is tested. Bulls just need to rally enough here to break the cycle of lower highs and show the world that the current bullish price action isn't just a continuation of the longer timeframe bear trend.
Resistance: - R1: The R1 bearish orderblock and major pivot point formed from the previous high before the COVID crash is the first major resistance Celer bulls have to face. A rejection here could lead to a retest of S1, so that is something to watch out for.
- R2: The R2 S/R flip is the major resistance. This level saw some significant price action back in 2019 and is likely to see a reaction again. R2 makes a great target for swing trading bulls, but that doesn't mean CELR can't go further, perhaps by turning this old support level back into support.... we'll have to see when we get there.
-----
Summary:
There is every reason to be bullish on CELR here if the bulls can stay above S1 and break the cycle of lower highs. Even if the bears manage to defend R1 or R2, there are gains to be had in the meantime. Good luck people and make sure to manage risk accordingly to your own strategy!
Resources:[/I]
blog.celer.network/2020/07/10/light-up-the-world-with-celer-network-state-channel/
✨Drop a comment asking for an update, we do NEW setups every day!✨
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.