$CELO is exhibiting pronounced bearish characteristics on the higher timeframes. The daily chart is dominated by a strong downtrend, with price action forming a series of lower highs and lower lows while being suppressed below all major moving averages. The recent breakdown below the $0.325 support level has confirmed a continuation of this bearish momentum.
The 4H chart shows any minor bounces are being sold into, with the RSI struggling to break above the 50 level. The current price is retesting a previous support-turned-resistance zone. The next key targets for sellers lie at the $0.310 and $0.305 support levels.
For any bullish reversal to be considered, a break and sustained hold above the $0.325 resistance confluence is imperative. Until then, the structure favors short setups on retests into resistance.
