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22 April 2021

Celer (CELR), Cartesi (CTSI) and Compound (COMP) rally as DeFi heats up

Celer (CELR), Cartesi (CTSI) and Compound (COMP) rally as DeFi heats up

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If this succeeds, Celer could address one of the main problems that may is limiting the rise of DeFi.

The pullback has reached the 20-day exponential moving average ($0.071) but the bulls are struggling to defend this level.

If the buyers defend the $0.065 support, the CELR/USDT pair could attempt to resume the up-move but it is likely to meet stiff resistance at $0.087 and then $0.095.

However, if the bulls propel the price above $0.103, the pair could rally to $0.122 and then $0.155.

However, after the sharp rally of the past few days, the CTSI/USDT pair is currently witnessing profit-booking.

If the pair rebounds off the $0.486 level, it will be a bullish sign as it will show that the previous resistance of $0.466 has flipped to support.

If the price turns down from this resistance, the pair could remain range-bound for a few days.

If the pair rebounds off this level, the bulls will once again try to push the price above the overhead zone.

If the bulls succeed, the pair could start the next leg of the uptrend which has a target objective at $796.

Contrary to this assumption, if the price slips below the moving averages, it could extend the decline and reach the support at $320.

A break below this critical support could intensify selling and pull the price down to $200

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