- Bitcoin and Ethereum outperformed Celsius crypto prices in the last one year.
- The CEL crypto’s trading volume has declined over the last 24 hours.
Celsius, founded by Alex Mashinsky and Daniel Leon in 2017, offers a comprehensive financial platform for cryptocurrency users. It provides high returns on savings, fair loan terms, and automated rewards, challenging traditional banking models. The CEL token enhances user benefits, while the company returns 80% of profits to users.
The current circulating supply of the Celsius crypto is 238.863M CEL, which is 34.3% of the maximum supply. Furthermore, the maximum and total supply of the crypto is the same, resulting in 695.658M CEL. This further results in a fully diluted market cap of $105.112M.
The sentiment of the Celsius crypto is bearish, and its market cap has declined by 6.2%. This further results in a market cap value of $36.055M and the crypto market cap ranking of #691.
The value of the traded volume for the Celsius crypto has further declined by 30.5% in the last 24 hours. The traded volume ranking of the crypto is #856 as per CoinMarketCap, and the value of the traded volume is $1.526M. This further results in a volume/market cap ratio of 5.25%.
The fear and greed index for the crypto further indicates greed and is currently at 67. The crypto price is highly volatile, as per Coincodex, and the current crypto volatility is 22.14%.
Celsius Crypto Derivatives Analysis
The derivatives trading volume of the Celsius crypto has declined by 2.9% in the last 24 hours, which has resulted in a value of $5.69M. The open interest in crypto further has slightly advanced by 1.48%.
The long liquidation recorded for the crypto is worth $22.83K, against which the short liquidation is $3.2K. This further results in a long/short ratio of 0.9425.
Social Dominance Vs. X Followers For Celsius Crypto
The social dominance of the Celsius crypto has witnessed a slight advance in recent days. Despite this, the crypto’s official page has very little following, showing that the crypto community’s social engagement is shallow.
CEL Crypto Technical Analysis
The price of the CEL crypto consistently faced resistance at higher levels for a long time, which led to a substantial decline in the crypto price. Following the most recent swing high of $0.4222, the cost of the crypto has declined by 65%.
CEL was taking support at the dynamic trendline but broke below the same. This indicates a strong downtrend in the price of the crypto.
CEL/USD Chart by TradingView
The CEL crypto price has declined below the crucial EMAs, and the 50-day and the 200-day EMAs have formed a bearish cross. The crypto price is further slipping towards the lower levels, followed by the decline in the metrics of the EMAs.
The MACD indicator on the daily crypto chart also indicates weakness in the crypto price. This is because the MACD and the signal line have declined below the zero level following a bearish cross.
The RSI has hit the oversold zone and is currently trading at 34.01. This is further followed by a decline below the 14-day SMA, which indicates bearish momentum in the crypto price.
Summary
The Celsius crypto, part of the Celsius platform founded by Alex Mashinsky and Daniel Leon, faces a bearish sentiment with declining trading volume. Despite its high volatility and social dominance, the price broke below key trendlines, indicating a potential downtrend. Technical indicators like MACD and RSI support further decline.
Technical Levels:
- Support Levels: $0.050 and $0.103
- Resistance Levels: $0.422 and $0.6848
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.