Celer Network (CELR) price action on the 4-hour timeframe consolidated at a compression level. It is currently breaking through the horizontal resistance level marked between $0.01315 and $0.01355. This breakout is a significant sign of potential bullish momentum.
Key Insights:
Horizontal Resistance Break: CELR breaks through the horizontal resistance range of $0.01315-$0.01355. This breakout is critical to confirm the bullish trend.
Squeeze Level: Consolidation at the squeeze level indicates accumulation of buying pressure, which could lead to a strong upward move once the breakout is confirmed.
Potential Upward Movement: After a full breakout and retest at the resistance level, we can expect further upward movement in CELR.
Buying Tips:
Consider Entry After Breakout: With confirmation of a breakout above horizontal resistance, consider going long. This setup suggests a high probability of upward movement.
Set Stop Loss: To manage risk, place a stop loss order below the breakout level, around $0.013. This will help protect your investment in the event of a bearish reversal.
Enter Gradually: Instead of entering a full position at once, consider entering gradually by buying in small increments. This approach helps manage risks and take advantage of further reductions.
Set Profit Goals: Set realistic profit goals by identifying resistance levels above the current price. Key levels to watch are $0.015 and $0.016, where previous price movements showed resistance.
Strategic Recommendations:
Watch the Breakout Level: Watch the breakout level carefully. A strong retest and confirmation of this level with increasing volume can signal a continuation of the bullish trend.
Stay Informed: Follow our live updates and in-depth analyzes to stay on top of the latest market movements and trends.
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