$CELO Best scenario for price Target

Cup Formation:

Celo formed a "cup" from $1.85 to $0.36, with the current high near $0.88 forming the resistance level.

Handle Retest: The price dropped back to $0.52, suggesting a classic handle formation and retest of previous resistance as support.

Breakout: The current price at $0.86 is nearing the resistance level at $0.88, signaling a possible breakout.

Scenario for Breakout: If the breakout above $0.88 occurs with sufficient volume:

The target price can be calculated by adding the cup depth to the breakout level.

Cup Depth = $0.88 (resistance) - $0.36 (low) = $0.52.

Target Price = $0.88 (breakout) + $0.52 (depth) = $1.40.