Celo price forecast. Celo Fundamental Analysis | Via SwapSpace | Capital | July 2021
CELO is a utility and governance token that powers the Celo network-a DeFi project dedicated to improving the user experience while transmitting encrypted currency, especially on mobile phones. Celo runs on its own independent blockchain, which went live in April 2020.
Celo supports more and more stable currency series, such as cUSD and cEUR, which are linked to the value of the U.S. dollar and the euro respectively through oracles. The working principle of Celo Wallet is to allow users to use their phone number as a public key substitute for their account, so basically transfer funds by “sending a text message” to the recipient’s number. This solution is not only suitable for people who do not understand the complexity of using cryptocurrency (to be honest, most people), but also for people who cannot use more traditional transfer methods for some reason, whether it is a banking application or a third party like Venmo. Three-party applications can be used anytime, anywhere on their mobile phones. Obviously, this is also a good solution for those who do not have a bank account at all (the number of people in the world may be as high as 1.7 billion).
CELO tokens are used for voting, staking for various governance purposes (because the Celo network uses a proof-of-stake protocol) and transaction fees. Please note that as a user-friendly and mobile-device friendly project, Celo has an automatic fee calculation function and accepts any supported stable currency payment.
The CELO token entered the market in May 2020 with surprisingly small fluctuations, initially falling from approximately US$2.5 to approximately US$1.5, but then consolidated at approximately US$1.8 in the following months. In late summer or 2020, as general interest in DeFi increases, the price of CELO has risen to almost $4.5. The downturn was followed closely, but not very steep: until January 2021, CELO transaction prices were mostly around US$1.7-1.8. In keeping with the general trend, CELO started a new 2021 in a bull market, and on April 21, it hit a record high of $7.24. The price fell sharply in mid-May, about the time of the hard fork, which may have added enough uncertainty to make investors nervous, and reached a historical low of about US$0.8 on May 22. However, after that, the project not only worked well, but also made some exciting announcements, such as confirmation of support from Andreessen Horowitz or a new partnership with Opera. This helped the price of CELO rebound to a level of approximately US$4.7 in late June. However, CELO may fall into a downturn again in July, but its near-term prospects are currently uncertain.
Although it is almost impossible to perform 100% accurate technical analysis of the Celo cryptocurrency, on this advanced technical analysis tool of TradingView, you can view the real-time aggregated CELO trading ratings within the selected time frame. The summary of CELO/USD is based on the most popular technical indicators — moving averages, oscillators and pivots.
Below we have collected the most reliable price forecasts for Celo (CELO) from popular forecasting platforms.
According to WalletInvestor, the price of Celo will rise from $2.669 to $5.085 within one year. This makes CELO an amazing investment. The long-term profit potential is 90.52%. The forecast price at the end of 2026 is $13.526.
When answering the question about whether Celo is a good investment, TradingBeasts responded in the affirmative. From the perspective of 2021, the price of the token is expected to reach US$2.68225, which will increase to US$3.02873 by the end of 2022.
In the DigitalCoin analysis, the price of Celo cryptocurrency will rise from today’s $2.65437 to $9.4992 in the next 5 years. By 2022, it will rise to $4.3107353 and continue to grow in 2023-2024. Based on this forecast, Celo is a profitable long-term investment.
It is clear from the analysis cited above that Celo (CELO)’s predictions are quite contradictory. There is no general consensus on the positive or negative trend of CELO prices in the future. In fact, the possible future growth depends on various factors: announcements, new technical solutions for the Celo project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.
SwapSpace is a cryptocurrency exchange aggregator that allows the exchange of more than 450 cryptocurrencies at fixed and floating interest rates. We collect the exchange rates of the major cryptocurrency exchanges in the market on the screen, allowing our users to compare and choose any option they like best. We will not add any fees to our partners’ rates, which makes transactions through SwapSpace profitable. The exchange time does not exceed 10 minutes from any of our comprehensive services. SwapSpace supports 24/7 work.
Passionate about crypto and want more news and price predictions every day?Join Exchange space blog!