- The Celsius crypto price is trading 97% below its all-time high price.
- Celsius crypto was launched for the first time on April 11th, 2018.
Celsius Network is a platform that allows users to earn interest on their crypto deposits, borrow against their crypto collateral, and pay with crypto. It aims to provide fair and transparent financial services to the crypto community. It has its own native token, CEL, which offers various benefits to its holders.
The total supply of the Celsius crypto is 695.658M CEL and the volume/market cap ratio of the crypto is 3.46%. The trading volume of the CEL crypto is trading flat with a decline of 1.0% in the last 24 hours.
The market cap of Celsius has slightly advanced by 2.7% and the current market cap value of the crypto is $49.969 Million. In terms of market cap, the ranking of the crypto is 530th, and the fully diluted market cap of the crypto is $145.529 Million.
The circulating supply of the crypto is 238.863 Million, which makes up 34.34% of the max supply, and therefore, the max supply of the crypto is similar to the total supply.
Celsius Derivatives Analysis
The derivative trading volume of the CEL crypto has witnessed a spike of 23.9%, resulting in a traded volume of $1.57 Million. Moreover, the open interest of the crypto has also risen by 1.10% and the long/short ratio of the crypto is 0.8318.
The recorded long liquidation for the CEL crypto, as per Coinglass, is $336.93K against the short liquidation of $0.
CEL Crypto Technical Analysis
The price of the CEL crypto is trading in a small range facing selling pressure from the higher side. The price of the Celsius crypto is trapped in the consolidation zone after strong decline of more than 95% in price from the all-time high.
If the price of the CEL crypto breaks above the consolidation, we might get to see an advance in the trading price of the crypto.
CEL/USD Chart by TradingView
The 50-Day and the 200-Day EMAs are trading in a death cross followed by a declining 20-Day EMA and the price of the CEL crypto on the daily time frame.
The MACD is also giving a sell-signal on the charts and the MACD and the signal line is trading below the zero level. Moreover, the MACD also is showing signs of reversal as it has formed a bullish cross below the zero level.
The RSI has declined below 50 indicating weakness on the charts and if it fails to break above 50, further decline in the crypto price might be witnessed.
Conclusion
Celsius Network is a crypto platform that offers interest, loans, and payments. Its token, CEL, has low volume and market cap, and is 97% below its peak. The technical analysis shows a bearish trend, but a possible reversal. The price may rise or fall depending on the market conditions.
Technical Levels
Support Levels: $0.095600 and $0.150360
Resistance Levels: $0.684800 and $1.03900
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
Dr. Naveen Singh is an entrepreneur with achievements in sports, academics, healthcare, innovation, blockchain technology, telecommunications, and philanthropy. He is the Co-Founder and Chief Executive Officer (CEO) of Inery, the first layer-1 blockchain programmed for database management. With Inery, he aligns with his vision of a new paradigm for data to empower web3 and complete decentralization.