BTC $61408.28 (-3.1%)
ETH $4035.10 (-2.3%)
USDT $1.00 (0.01%)
BCH $629.14 (-0.6%)
BSV $171.86 (-1.0%)
LTC $193.84 (-2.6%)
BNB $480.61 (-2.3%)
ADA $2.16 (-1.7%)
DOGE $0.24 (-0.4%)
BTC $61408.28 (-3.1%)
ETH $4035.10 (-2.3%)
USDT $1.00 (0.01%)
BCH $629.14 (-0.6%)
BSV $171.86 (-1.0%)
LTC $193.84 (-2.6%)
BNB $480.61 (-2.3%)
ADA $2.16 (-1.7%)
DOGE $0.24 (-0.4%)

Celo Price Prediction – Will CELO Price Hit $12 in 2021?

Price-Prediction-Celo-(CELO) Prediction
  • Bullish Celo price prediction ranges from $7.3 to $9.4.
  • The Celo price might also reach $12 soon.
  • Celo’s bearish market price prediction for 2021 is $5.16.

This Celo (CELO) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our Celo price analysis and prediction.

Over the past few days, the crypto market looks to be recovering fast. Moreover, after the dip in the past two months, the crypto market either remains stable or surges steadily. At present, it looks like the crypto-asset industry will surge high again.

Will Celo (CELO) experience the same price volatility? We’ll find out soon in this Celo (CELO) price analysis 2021 article. But first, let’s have a look at what is Celo (CELO)?

What Is Celo (CELO)?

Celo is a blockchain platform that focuses on rising cryptocurrency adoption among smartphone users. Moreover, the platform uses phone numbers as public keys. Celo hopes to introduce the world’s billions of smartphone users. These also include those who are without banking access to transact in digital assets.

In addition, the network also enables the creation of smart contracts and decentralized apps (DApps) as part of DeFi. In April 2020, its mainnet was launched. Moreover, the platform has two native tokens.

Even more, CELO is a proof-of-stake (PoS) token utilized for transaction fees, governance participation, and related activities. In future, the platform focuses on hosting different stablecoins, with one, the Celo Dollar (CUSD), already in use.

Now that we have an idea about Celo, do you think CELO will be profitable crypto in 2021? Join me, and together let us check the charts in this CELO price analysis and CELO price prediction.

CELO Current Market Status

When writing this Celo price analysis, CELO trades at $6.96 with a 24-hour trading volume of $355,077,559. The price of CELO has increased by 15.46% in the last 24 hours.

Furthermore, CELO has a current circulating supply of 306,819,314.00 CELO. Currently, the top digital asset trading platforms for CELO are Binance, OKEx, Upbit, Mandala Exchange and Bitget.

Now, let’s move to the next part of this CELO price analysis for 2021.

CELO Price Analysis 2021

Recently, CELO took the 11th position on CoinMarketCap. But will the recent developments, upgrades, and changes in the blockchain help the cryptocurrency price to reach higher? Let’s proceed to the charts in this CELO price prediction article.

CELO/USDT chart showing Symmetrical Triangle pattern
CELO/USDT chart showing Symmetrical Triangle pattern (Source: TradingView)

In the daily time frame chart shown above, we can see the Symmetrical Triangle Pattern. This pattern shows the period of consolidation that may lead to a price breakdown or breakout. In the foreseeable future, we can say that CELO has a higher chance of going bullish than bearish.

As shown above, at the beginning of this month, CELO turned from its bear to bull trend. This is the result of the high trade volume that happened in that period.

Celo Relative Strength Index
Celo Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) is at 70.87, which means that CELO is in an overbought state. Moreover, this indicates that crypto traders and investors need to trade carefully, however, this pushes crypto investors to worry about any major price reversal.

Furthermore, crypto traders must trade cautiously and must not be affected by the cryptocurrency market hype. With this in mind, cryptocurrency traders must be careful to avoid unexpected losses due to the crypto market’s wild swings.

Let us also look at the Exponential Moving Average (EMA) and the Simple Moving Average (SMA) of Celo.

Celo 30-day SMA and 50-day EMA
Celo 30-day SMA and 50-day EMA (Source: TradingView)

Since the start of 2021, CELO’s price has seen many bullish moves, which are higher than the previous one. More so, these are followed by consolidation, fluctuations, and corrections right away. Taking this into consideration, CELO has a competitive market this 2021.

CELO Price Prediction 2021

The chart below shows that CELO has performed great over the past few days. Moreover, the CELO price shows a bullish trend. If this trend continues, CELO might run along with the bulls, overtaking its $7.3 resistance level and move even higher to $9.4.

CELO/USDT Price Prediction Chart
CELO/USDT Price Prediction Chart (Source: TradingView)

Conversely, if the investors turn against the crypto, the bears might take over and push CELO from its uptrend position. In simpler terms, the price of CELO might decrease to almost $5.16, a bearish signal.

Meanwhile, our long-term CELO price prediction 2021 is bullish. It has a high possibility of reaching new heights. However, that will only happen if it breaks many previous psychological resistances.

CELO Price Prediction 2022

If this bullish trend continues, CELO will reach $15 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $25. Then this rise will slow down, but no major falls are expected. With upcoming, partnership, and developments reaching $15 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

CELO Price Prediction 2023

If CELO holds the support level around 200-MA, the long-term moving average, buyers will then have ample time and stability to forge the next attack mission on the vital level at $40, making it not plummet but play consistently.

CELO Price Prediction 2024

As per the latest upgrades, developments, CELO price prediction, and new project forecasts of the platform, CELO investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of CELO in the crypto market, and it will be the best investment as the price can spike and reach around $55.

CELO Price Prediction 2025

In the next four years, CELO prices could rise up to $75. However, reaching this level could not be so difficult for CELO as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that CELO has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

CELO seems to have a great future ahead in 2021. With the ongoing developments happening within the CELO ecosystem and the overall crypto market, we may see CELO reach new heights.

Meanwhile, our long-term CELO price prediction 2021 is bullish. Even more, the bullish CELO has a high possibility of reaching $9.4. However, that will only happen if it breaks the past psychological resistance. It may even reach $12 if investors continue to side with CELO this year along with the mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

What is CELO?

Celo is a blockchain platform that focuses on rising cryptocurrency adoption among smartphone users. Its native token is CELO.

How to Buy CELO Tokens?

Celo’s native asset CELO is a good investment in 2021. Users can obtain CELO tokens by purchasing them from cryptocurrency exchanges such as Binance, OKEx, Huobi Global, and FTX.

Can CELO reach $12 soon?

Yes, it’s very much possible that CELO might reach $12 in the near future as per the current bullish trend.

Is CELO a good investment in 2021?

CELO is one of the good investments to make in 2021. CELO has a high possibility of surpassing its current ATH at about $10.66 this year.

What will be the Celo price by 2022?

Celo (CELO) price is expected to reach $25 by 2022.

What will be the Celo price by 2023?

Celo (CELO) price is expected to reach $40 by 2023.

What will be the Celo price by 2024?

Celo (CELO) price is expected to reach $55 by 2024.

What will be the Celo price by 2025?

Celo (CELO) price is expected to reach $75 by 2025.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.