Celsius is the best-performing cryptocurrency amongst the high 100 cash by market cap over the last 24 hours.
The cryptocurrency market has continued its constructive begin to the week regardless of some cash and tokens at present underperforming. The market has added much less than 1% to its worth in the last 24 hours, with the whole market cap now above $1.1 trillion.
Bitcoin is up by 0.38% in the last 24 hours however didn’t have sufficient momentum to surge previous the $24k resistance degree regardless of buying and selling in the inexperienced zone.
Ether, the second-largest cryptocurrency by market cap, is up by more than 2% in the last 24 hours and at present buying and selling at $1,772 per coin.
However, CEL, the native token of the Celsius platform, is up by more than 28% in the last 24 hours, making it the best-performing cryptocurrency amongst the high 100 cash by market cap.
At press time, CEL is buying and selling at $1.9 per coin. This represents a 300% surge in worth over the previous few weeks as CEL dropped under $1 after Celsius halted withdrawals on its platform a couple of weeks in the past.
Good Morning #CelShortSqueeze Gang ????☕️
Are you guys shopping for $CEL and making a living?! https://t.co/XQjqOGCUsb pic.twitter.com/zYJJAMzaYQ
— WSB Crypto Mod ???????????? (@traderrocko) August 8, 2022
CEL has been rallying as merchants on Twitter took the alternative to push the token worth greater, much like what they did with the GameStop inventory last 12 months.
Key ranges to look at
The CEL/USD 4-hour chart is extraordinarily bullish as Celsius has been performing excellently over the previous few days.
The MACD line is deep into the constructive zone, indicating a robust bullish momentum for CEL.
The 14-day relative energy index of 87 reveals that CEL is at present in the overbought area.
If the bulls stay in management, CEL might rally previous the first main resistance degree at $2.125 earlier than the finish of the day. In the occasion of an prolonged rally, CEL might break previous the $2.5 mark for the first time since April 2022.
