Celsius Token CEL Skyrockets 62%, Signaling Renewed Curiosity

• CEL’s worth soared 62% to $0.5491, pushed by renewed market demand and elevated buying and selling quantity.
• Technical indicators recommend heightened volatility, with RSI at 90.91 and Bollinger Bands widening.
• Celsius is restructuring post-bankruptcy, returning $3 billion in property and creating Ionic Digital Inc.

CEL, the native token of Celsius Community, has seen its worth climb greater than 62% to $0.5491 on September 23, 2024. Market capitalization additionally grew by greater than 60%, reaching $20.71 million in line with market knowledge. Within the final 24 hours, the buying and selling quantity of CEL was greater than $24 million, a rise of over 84%.

Value Surge and Technical Indicators

This sharp rise follows months of volatility for Celsius. The buying and selling chart exhibits an upward worth pattern after a protracted interval of fluctuations that has introduced in renewed demand for the token.

The Relative Energy Index (RSI) rose to 90.91, which signifies an overbought degree. Sometimes, a studying above 70 suggests an asset is overbought and there may very well be a pullback.

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The Bollinger Bands widened significantly indicating a pointy worth motion. The fast growth of the Bollinger bands would usually recommend a fast price of worth volatility. CEL moved shortly by these bands, with the higher restrict extending to $0.3735, far above its decrease help degree of $0.1753.

Renewed Curiosity in Celsius Community

The rally follows as curiosity within the Celsius Community has grown. Celsius filed for chapter in July 2022. Celsius had lately began restructuring efforts and as a part of its chapter decision, the corporate will return over $3 billion in property to its collectors.

Celsius additionally spun off a part of its operations into a brand new mining enterprise, Ionic Digital Inc. This new entity is poised to go public, a growth which may be fueling the renewed curiosity within the Celsius community and its latest worth surge.