Celo price analysis: Bearish momentum to break CELO below $7 psychological mark

TL;DR Breakdown The Celo price analysis shows bearish trend.CELO/USD price is standing at the $7.2 level.Strong support is available at $5.89 position. The Celo price analysis is indicating a drop in price overall but the bulls are trying to make recovery, however, bears are inserting great pressure. The price has gone up to the $7.166 level during the last four hours which is an encouraging signal for the bulls. The short-term trending line is also moving upwards which is further confirming that the bulls have been at the upper position for the most part. Further improvement in coin value can be only be expected in the upcoming time period if buyers get a broader base which seems difficult in increased volatility, present at the time. CELO/USD 1-day price chart: Bears restrict price from a new high above $7.398 The one-day Celo price analysis is going in the bearish direction for the day as the price has decreased slightly because of the bearish push. The past week has been highly supportive for the bulls, yet today the price has downgraded to the $7.14 value. The trending line is still following the upward direction and a rise in price can be expected. The moving average (MA) value is $6.32 which is at a lower level as compared to the current price. CELO/USD 1-day price chart. Source: TradingView The volatility has increased during the day which should be taken as a negative hint. The Bollinger band values have changed as w...