- The price of Celsius crypto has dropped by 68% over last year.
- CEL crypto has medium liquidity based on its market cap.
Celsius Network is a platform that lets users borrow and lend cryptocurrencies with low interest rates and rewards. Users can earn interest weekly and withdraw anytime. The platform is insured by BitGo, but not fully protected from cyber attacks. Celsius Network aims to decentralize the financial system.
The traded volume for the Celsius crypto has advanced by 50.3% in the last 24 hours resulting in a traded value of $1.703 Million and the volume ranking of the crypto is #717.
The volume/market cap ratio of the crypto is 3.85% and the market cap of the crypto has advanced by 2.4% resulting in $44.329 Million. Moreover, Celsius has a market cap ranking of #559.
The circulating supply of the crypto is 238.863 Million CEL and the total supply of the crypto is 695.658 Million CEL. The max supply of the crypto is similar to its total supply and the fully diluted market cap of the crypto is $129.145 Million.
The volatility of the crypto is high resulting in 5.62% and the dominance of the Celsius Network is 0.00%. It was released on June 3, 2018. Its sentiment is Bearish as per Coincodex. Also, the fear and greed index shows greed as it is at 72.
Celsius Network Crypto Derivatives Analysis
The open interest of the crypto has declined by 0.24% in the last 24 hours resulting in $684.83K and the derivatives trading volume of the crypto has advanced by 74.15%. This has resulted in a traded value of $2.05 MIllion for the derivatives contract of the crypto.
The long/short ratio for the crypto is 0.955 which represents higher long liquidation for the crypto. Furthermore, it has witnessed a long liquidation of $6.53K and the short liquidation for the crypto is $3.9K.
CEL Crypto Technical Analysis
The CEL crypto price is consistently forming lower lows and lower highs on the weekly chart and the price of the crypto has been unable to break any swing highs. The following behavior of the price represents weakness.
If the price of the crypto breaks above the most recent swing high of $0.3878, a further surge in the trading price of the crypto might come as this behavior will lead to a bullish change of structure.
CEL/USD Chart by TradingView
The trading price of the CEL crypto has declined below the crucial EMAs and the 50-Day and the 200-Day EMAs are trading in a bearish cross on the chart. The smaller EMAs are trading below the larger EMAs and the price of the crypto is also taking rejection from the EMAs.
The MACD and the signal line are trading in a golden cross which indicates bullish behavior in the short term. On looking at the bigger picture we can see that the signal line is trading below the zero level which indicates a downtrend on the larger timeframe.
The RSI for the crypto is consistently advancing to higher levels and has hit the level of 48.98 by breaking above the 14-day SMA. If the RSI further breaks above the 50-level and sustains above the same, we might witness a bullish momentum in the crypto price.
Summary
Celsius (CEL) is a crypto lending platform that offers low interest rates and rewards. However, the price of CEL has been in a downtrend for a year, losing 68% of its value. The technical indicators are mixed, with some signs of a possible reversal, but also a lot of resistance. The future of CEL is uncertain.
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.