Is Celsius a Hidden Gem or Just Another Pump-and-Dump Scheme
Whale activity and market revival sparked the uptrend
On June 04th, #Celsius reached a high of $8.00. Following this peak, the price declined by 98%, hitting a low of $0.0857 on June 10, 2023.
After reaching the new low, $CEL traded in a consolidation zone below $0.4500 for nearly nine months.
On May 5th, the consolidation phase ended, and the #Celsius price surged by 155% within seven days.
Subsequently, the price dipped by 54%, finding support around $0.50.
Yesterday, a long bullish candle formed, with the price increasing by 170%, reaching levels not seen since September 2022.
CEL is currently forming a Tweezer top candle on the daily chart.
As per Coin Gabbar analysis, If $CEL breaches yesterday's high and the psychological level of $1.50, the price can test $2.00.
If the bulls fail to breach the upper level, a pump-and-dump scenario might occur, potentially driving the price below $1.00.
KEY LEVELS :
RESISTANCE LEVEL : $1.5000-$2.0000
SUPPORT LEVEL : $0.8500-$0.5000
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