#CELO/USDT market structure analysis

#CELO

The price is moving within an ascending channel on the 1-hour timeframe and is adhering to it well. It is poised to break out strongly and retest the channel.

We have a downtrend line on the RSI indicator that is about to break and retest, which supports the upward move.

There is a key support zone in green at 0.2277, representing a strong support point.

We have a trend of consolidation above the 100-period moving average.

Entry price: 0.2400
First target: 0.2433
Second target: 0.2525
Third target: 0.2611

Don't forget a simple money management rule:

Place your stop-loss order below the green support zone.

Once you reach the first target, save some money and then change your stop-loss order to an entry order.

For any questions, please leave a comment.

Thank you.