CELR Shows 'Fangs' With 2,300%Increase! - Kakiforex.com - Financial Market Media No. 1 in the World CELR Shows 'Fangs' With 2,300%Increase! CELR Shows 'Fangs' With 2,300%Increase!
InstaForex

July 9, 2021

CELR Shows 'Fangs' With 2,300%Increase!

 Celer Network is a layer-2 scaling solution designed for transaction speed and throughput in providing off-chain transaction handling.


The Celer platform offers fast and secure off-chain transactions for payments and smart contracts.


The project is also the first to be developed using the Substrate framework and is part of the Polkadot ecosystem.


The Celer Network (cStack) network architecture is based on four elements:


cOS: The core of the network that provides the workflow

cRoute: A mechanism that allows for increased operational capacity by streamlining routes in the network

cChannel: A channel for sending transactions in a network

cApps: An ecosystem application layer used for scaling and user privacy.

During the opening of the 2021 market, the CELR price movement continued to move violently to make an increase of over 2,300% in just 3 months.


The rise has also supported the CELR price to hit its latest all -time high (ATH) around $ 0.10 on March 28th.


But the strengthening did not last long as the CELR price movement continued to decline to re -test the $ 0.024 support level.



During the July market movement, the CELR price jumped more than 30% to move to the SBR (support become resistance) level around $ 0.033 based on the CELR/USDT chart.


But the price failed to break the $ 0.033 SBR level and re -made the decline which will likely retest the $ 0.024 support level.


The support level is also seen to be re -evaluated to support the price spike or continue to decline.


If the price movement is seen to successfully continue the rise, the SBR $ 0.033 level will be retested before reaching a higher price level.


The next SBR zone around $ 0.040- $ 0.042 will be targeted and will give an early indication of a bullish trend if the SBR level is successfully broken.


As of 5.30pm local time, the CELR price is down more than 3% to trade at a price level of around $ 0.027.