CEL Surges 100% in 24 Hours, Breaks Above Key EMA Levels

Recent Price Surge

Celsius (CEL) has seen a significant price increase, rising over 100% in the last 24 hours. At the time of writing, CEL is trading at $1.98, with a 24-hour high of $3.00 and a low of $1.43. This upward movement has elevated CEL's ranking on CoinMarketCap, moving from 82nd to 77th by market capitalization.

Technical Analysis

The daily chart for CEL/USDT shows a parabolic upward trend, with the price breaking above the 9 and 20 Exponential Moving Average (EMA) lines. The 9 EMA has also crossed above the 20 EMA, indicating continued bullish momentum. Additionally, the RSI line is rising and approaching overbought territory, suggesting strong buyer interest.

Potential Retracement Ahead

Despite the bullish signals, CEL is approaching a significant resistance level at $3.02. This could lead to a price retracement, potentially dropping CEL's price to between $2.3 and $1.7, near the current EMA levels.

Market Capitalization Movement

CEL's rapid price appreciation has improved its standing among cryptocurrencies. It now ranks above Waves (WAVES) and just below Basic Attention Token (BAT), reflecting its growing prominence in the crypto market.

Key Considerations

Investors should remain cautious as CEL approaches the $3.02 resistance level. While the technical indicators suggest continued upward momentum, a retracement could occur, testing support levels near the EMAs. Traders should monitor price action closely and consider risk management strategies.

This summary provides an overview of CEL's recent price movement and technical outlook. Readers are encouraged to conduct their own research and consider market volatility before making investment decisions.