Celer Network (CELR) introduces a Zero-knowledge (ZK) omnichain data attestation platform with enable dApps access data in a trust-free way
CELR price analysis trades modestly higher on Wednesday. Celer Network (CELR), a blockchain protocol for interoperability, came up with Brevis, a ZK Omnichain data attestation platform. The platform solves the trust issue while managing the access and utilizing the vast amount of data stored in the full history of multiple blockchains.
What does technical chart suggest about the price in short-term
At the time of writing, the CELR token was reading at $0.0240. CELR price retrace from the daily high on the 4-hour chart. With the border recovery in the global crypto market, the CELR token has also added to the bullishness in the market over the past few weeks.
CELR price is trading inside the rising wedge pattern, from the low of $0.0145. The price is making higher highs and higher lows inside the channel. Now, after testing the highs near the upper trendline the CELR buyers are distributing to book their profit. Further, the price makes a double top near $0.02540 as a reaction to the bearish pattern, the price makes a pull back.
A negative divergence on MACD, although the momentum oscillator still holds above the mid line indicates a price correction. Awesome oscillator still indicates the bullish sentiment.
Mixed signals from oscillators suggest avoiding aggressive bids.
If the price again recoup above the daily high amid buying participation then CELR price could move toward $0.2580.
On the flip side, if the buyers failed to sustain $0.0230, we can expect more correction in price toward $0.0223.