Cryptocurrency CELR is currently facing a bearish atmosphere born out of investor profit taking after Bitcoin had its own rally past. The Celer Network token has seen a drop of 16% in today’s trades and failed to keep up with the general market sentiment following BTC’s performance. Further, CELR is trading at a key support price zone of $0.023 and looks to be vulnerable to bear clutches should Bitcoin fail to sustain beyond key resistance levels.

The recent development to the Celer platform bridges support for Izumi Finance native token (IZI) and IUSD stablecoin but with no corresponding bullish result in the CELR price yet. This has created a current state of flux for the token, with bulls now needing to hold fast and defend the remaining gains of the past couple of weeks.

Coinmarketcap data reveals that current price of CELR is far from the $0.031 high it saw last week, and it could swing further down should Bitcoin go past the level of $27,800 as resistance and create more uncertainty in the market.

For CELR, a majority of the week has seen this decline in price with the possible exception of the recent price increase which was a result of the climbing rate of Bitcoin. With the current trend, bulls need to take control and defend their gains in the coming days if the CELR token is to recover and make a comeback in the near future.



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