Celsius Token CEL Skyrockets 62%, Signaling Renewed Interest

CEL, the native token of Celsius Network, has considered its tag climb extra than 62% to $0.5491 on September 23, 2024. Market capitalization additionally grew by extra than 60%, reaching $20.71 million according to market data. In the final 24 hours, the purchasing and selling volume of CEL used to be extra than $24 million, an amplify of over 84%.

Label Surge and Technical Indicators

This provocative upward push follows months of volatility for Celsius. The purchasing and selling chart presentations an upward tag pattern after a prolonged period of fluctuations that has introduced in renewed quiz for the token.

The Relative Strength Index (RSI) rose to 90.91, which indicates an overbought stage. Normally, a reading above 70 suggests an asset is overbought and there on the total is a pullback.

Source: Tradingview

The Bollinger Bands widened severely indicating a pointy tag stream. The fast growth of the Bollinger bands would in general suggest a fast price of tag volatility. CEL hurried by these bands, with the greater restrict extending to $0.3735, a long way above its lower abet stage of $0.1753.

Renewed Interest in Celsius Network

The rally follows as hobby in the Celsius Network has grown. Celsius filed for financial ache in July 2022. Celsius had lately started restructuring efforts and as section of its financial ache resolution, the corporate will return over $3 billion in resources to its creditors.

Celsius additionally spun off section of its operations real into a brand contemporary mining mission, Ionic Digital Inc. This contemporary entity is poised to head public, a boost that is most almost certainly fueling the renewed hobby in the Celsius community and its most unique tag surge.