CandleFocus

Celsius Token CEL Skyrockets 62%, Signaling Renewed Interest

Author: Content Editor
The native token of Celsius Network, CEL, has experienced a significant surge in price, climbing over 62% to $0.5491 on September 23, 2024. The market capitalization has also grown by over 60% to reach $20.71 million. The trading volume of CEL in the last 24 hours increased by more than 84% to over $24 million. This rise follows a period of volatility for Celsius, with the token now experiencing increased demand. The Relative Strength Index (RSI) suggests that CEL is overbought and a pullback may occur. The Bollinger Bands indicate sharp price movement and volatility. The rally in CEL's price is linked to the growing interest in the Celsius Network, which recently filed for bankruptcy but has since started restructuring efforts and will return assets to creditors. Additionally, Celsius has spun off part of its operations into a new mining venture that is set to go public, further fueling the renewed interest in the network. It is important to note that this information is provided for informational purposes only and should not be considered financial advice.

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