Celsius token is the most effective performer amongst the highest 100 cryptocurrencies within the market today.
CEL, the native token of the Celsius platform, is the most effective performer amongst the highest 100 cryptocurrencies by market cap. CEL is up by greater than 11% within the final 24 hours, outperforming the broader market within the course of.
The rally comes because the broader crypto market is underperforming. The crypto market has misplaced roughly 5% of its worth within the final 24 hours, with the whole market cap now round $1.1 trillion.
Bitcoin may slip beneath the $23k assist degree quickly after dropping greater than 1% of its worth thus far today. Ether is down by greater than 5% today and is now buying and selling round $1,840 per coin.
CEL’s rally comes despite a report two days in the past revealing that the crypto lender Celsius would run out of money by October.
A brand new court docket submitting Monday from Kirkland & Ellis, a legislation agency Celsius employed to guide its restructuring efforts, revealed this newest improvement. The crypto lender had already filed for chapter and halted withdrawals on its platform roughly three months in the past.
Key ranges to look at
The CEL/USD 4-hour chart is bearish despite Celsius performing excellently over the past 24 hours. The technical indicators present that CEL is recovering from a current stoop.
The MACD line is inside the unfavourable zone however is surging greater and will enter the constructive area if the present momentum is maintained. The 14-day RSI of 49 reveals that CEL is now not within the oversold area.
At press time, CEL is buying and selling at $2.8245 per coin. If the rally continues, CEL may surge previous the $3.385 resistance degree earlier than the tip of the day.
However, except there’s a breakout within the broader market, CEL may discover it arduous to maneuver previous final week’s excessive of $3.9 per coin.
