-eCash price is trading in the red after recording 10% gains between Sunday and Monday.
-The gains for XEC were as high as 16% on Monday alone when the altcoin, formerly known as Bitcoin Cash ABC (BCHA), climbed to a high of $0.0000351.
-eCash needs to hold above the $0.000027- $0.000030 demand zone to sustain the recovery.

The digital currency, eCash, is currently trading in the red after recording significant gains between Sunday and Monday. During this time, the altcoin, formerly known as Bitcoin Cash ABC (BCHA), achieved as much as 16% gains in one day, reaching a high of $0.0000351. At the time of writing, the eCash price is trading at $0.000032, up only 0.08% on the day. The trading volume for XEC is up 17% in the last 24 hours to $52,038,198, with a live market cap of $630,906,138, placing it at #70 on CoinMarketCap ranking.

In order to sustain the recovery, eCash needs to hold above the $0.000027 – $0.000030 price range. This range acted as supplier congestion between November 12 and December 15 before dropping below it, causing eCash to lose 22% of its value and seeking solace from the $0.00002148 support floor. Therefore, it is crucial that XEC stays above this demand zone.

In addition, the eCash price has managed to overcome key levels by flipping them into support. These include the $0.000024 major support level, the 50-day simple moving average (SMA) at $0.00002461, and the 100-day SMA at $0.00002968. This has allowed for an ascending parallel channel to be created on the daily chart.

If eCash manages to hold above the $0.000027 – $0.000030 demand zone, it would be an encouraging sign for the bulls and could potentially allow for XEC to continue its recovery. However, if it fails to do so, it could lead to further losses for the digital currency. Therefore, it is essential for investors to keep an eye on the eCash price in order to make informed trading decisions.

• Celo was trading with a bullish bias around $0.754 as buyers focused on undoing last week’s losses.
• A bullish cup-and-handle chart pattern has set Celo up for a potential bull run, with a target of $1.08.
• Support levels for Celo include the 200-day simple moving average (SMA) at $0.735, the 100-day SMA at $0.587, the 50-day SMA at $0.563, and the major demand zone at $0.48.

Celo (CELO) is primed for a rally as buyers look to undo the losses seen last week. At the time of writing, the altcoin was trading with a bullish bias around $0.754, with the technical analysis pointing to a potential upswing targeting $1.08.

The turndown that occurred between Monday and Tuesday last week gave late investors a chance to buy Celo at a discounted price. After being rejected by resistance from the $0.766 supplier congestion zone, the price of Celo plunged as much as 41% towards the $0.45 support level. This was followed by a recovery, which was sustained for over two weeks before being rejected by the same barrier. The correction stopped at the $0.60 psychological level, at which point a bullish cup-and-handle chart pattern emerged, setting the stage for a potential bull run.

At press time, Celo was trading above the $0.735 demand zone, which is embraced by the 200-day simple moving average (SMA). The next line of defense on the downside is the 100-day SMA currently at $0.587. Additional support areas could arise from the 50-day SMA at $0.563, and the major demand zone at $0.48.

The Moving Average Convergence Divergence (MACD) indicator was moving upwards, which is a sign of increasing buying pressure. Moreover, the Awesome Oscillator (AO) displayed a series of consecutive green bars, indicating that the momentum had shifted in favor of the bulls.

If bulls manage to push the price of Celo above the $0.766 resistance level, they could target a 43% upswing towards the $1.08 mark. On the other hand, if the bears manage to gain control of the market, Celo could find further support at the levels mentioned above, with a potential downside target of $0.45.