CELO has lost 20% of its value in the last 24 hours as it prepares for its hard fork later today.


CELO, the Celo network's native coin, has lost 20% of its value in the last 24 hours. It is one of many cryptocurrencies that have underperformed since the beginning of the day.


Despite Celo's announcement of a major hard fork scheduled for today, the performance is poor. The Flan hard fork will occur on November 9 at block height 16068685 and will have no effect on users.

CELO's drop coincides with a massive sell-off in the broader cryptocurrency market. The recent FTX struggles have pushed the crypto market into a bearish trend, with most coins trading in the red zone.


The total cryptocurrency market capitalization is now less than $900 billion, down 10% in the last 24 hours. Bitcoin fell below the $18,000 mark for the first time in months, losing 8% of its value. However, it has recovered slightly and is now trading above $18,000.


Ether is also down more than 15% today, trading at around $1,200 per coin.

Levels to keep an eye on

Celo has been underperforming since the beginning of the week, so the 4-hour chart of CELO/USD is extremely bearish.

TradingView's CELO/USD Chart


The MACD line is deep within negative territory, indicating that CELO is currently under market selling pressure.


The 14-day relative strength index of 19 indicates that CELO is currently oversold. CELO is currently trading at $0.527 per coin as of press time.


If the bearish trend continues, CELO may fall below the $0.50 support level for the first time in over 6 months. In the event of a prolonged sell-off, CELO could fall below $0.40 for the first time in over a year.

Where can I buy CELO right now?

Binance

Binance is one of the world's largest cryptocurrency exchanges. It is better suited to more experienced investors and provides over 600 cryptocurrencies to choose from. Binance is also known for having low trading fees and a wide range of trading options for its users, including peer-to-peer trading, margin trading, and spot trading.


Buy CELO today with Binance.

Coinbase

Coinbase is a cryptocurrency exchange that operates on a global scale. Its platform is well-designed for new investors, and it provides a diverse range of coins, with over 100 to choose from. Coinbase has high-level security built into the platform, as well as a variety of features to use, and it provides its users with options for storing their cryptocurrency, such as the ability to store coins on the Coinbase exchange.


Buy CELO today with Coinbase.

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