Celsius (CEL) Price Skyrocketed 132% Celsius ( LSE:CEL ) has seen a significant increase in price, jumping 135% in the last 24 hours, with daily trading volume above 872%. This surge is attributed to increased bullish sentiments and whale activities. The crypto market has seen slight recovery figures after inter-day trading saw top coins lose steam. Celsius's bullish momentum has sparked a frenzy around crypto spaces, with some calling it a pump-and-dump-styled rise. The token has risen by over 132% in the last 24 hours, driven by factors such as over-the-top trading volumes, whale activity, and a general market recovery.
Daily trading volumes are at $85.4 million, an 872% jump in the market. This activity outpaces the top coins, with Bitcoin ( CRYPTOCAP:BTC ) and Ethereum ( MIL:ETH ) posting day trading volumes of 5.78% and 9.2%, respectively. The wider crypto market is up 7.52%. Bullish on-chain activities remain a driving factor for major coins as the community rallies around the tokens.
LSE:CEL trades at $1.27, pushing weekly gains to 87% and 30-day trading to a 692% gain. Whale sentiment spurred growth in Celsius, and the general bullish market sentiment also drew investors to Celsius. Bitcoin trades at $68,913, recovering 2.3% today, with other assets posting similar figures.
CEL
Celsius Network Burns 94% of Supply Weekly Price up 370%Celsius ( LSE:CEL ), the native token of Celsius Network, has experienced a 370% price rally in a week, defying market selloff. The rally is attributed to the token's massive burn initiated recently, which resulted in the destruction of 94% of its total supply. This massive incineration led to a weekly pump of roughly 370% for the token, which is part of the firm's bankruptcy filing.
The price rally stands out due to its defiance of current broader market trends. On-chain data highlights LSE:CEL 's bullish stance, illustrating a market uptrend and further enhancing its appeal to crypto market participants. Celsius price has witnessed a 40.10% upswing in the past 24 hours and is currently trading at $0.7185. The token's market cap surged by 40.10%, followed by a 14.48% increase in 24-hour trading volume. Celsius data also showed a 72.01% rise in LSE:CEL futures open interest, reaching $13.69 million, and a 26.62% spike in derivatives volume, reaching $319.09 million.
However, the Relative Strength Index (RSI) hovered at around 85, suggesting that the asset is an overbought territory. Technical indicators indicate strong buying sentiment for the token in the market, with a pump that may be expected in the short run if buying pressure persists. The Relative Strength Index (RSI) continues to cloud the token's long-range price movements in an enigma.
CEL ON BREAK POINT TO HIGH LEVELCEL seems to have made an important change in the trend that will be able to break with more than 30% in uptrend.
The volume of CEL looks interesting for the next break.
Celsius Starts Paying $3 Billion In Crypto and Fiat to Creditors
In a remarkable turnaround, Celsius Network ( LSE:CEL ), the embattled crypto lender, has successfully concluded an intricate 18-month journey through the maze of bankruptcy proceedings. The company has not only fulfilled its promise but has gone above and beyond by distributing assets exceeding $3 billion to its creditors. This marks a pivotal moment for Celsius and the cryptocurrency industry as a whole.
A Collaborative Triumph:
Celsius's success story in emerging from the complexities of bankruptcy is a testament to its collaborative spirit. The company engaged extensively with regulatory authorities, employing innovative strategies like alternative settlement agreements and converting less liquid altcoins into major cryptocurrencies such as Bitcoin and Ethereum. The labyrinthine restructuring process required meticulous planning, and Celsius emerged victorious with a distribution plan that secured a staggering 98% approval from account holders owed funds.
Creation of Ionic Digital and Hut 8's Role:
Out of this process, a new entity named Ionic Digital has emerged, dedicated to Bitcoin mining. Ownership of Ionic Digital is distributed among creditors, while operational management is entrusted to the well-established Canadian company Hut 8. This strategic move not only maximizes the value for creditors but also demonstrates Celsius's commitment to exploring new avenues within the crypto space.
Strategic Liquidation of Ethereum Holdings:
To expedite the distribution process, Celsius ( LSE:CEL ) recently liquidated a substantial portion of its Ethereum holdings. The company transferred over 847,600 ETH, valued at nearly $2 billion, from various digital wallets to centralized trading platforms like Coinbase. The move, documented by blockchain analytics firms Spot on Chain and Lookonchain (pbs.twimg.com), involved around 67,500 ETH tokens worth $157 million being deposited at Coinbase's institutional trading division. This strategic liquidation aims to streamline the payout process, ensuring creditors recover their funds expeditiously.
Compliance and Governance:
Celsius's ( LSE:CEL ) success wasn't solely based on financial maneuvers. The company worked closely with federal and state regulatory bodies, ensuring that all distributions adhered to full compliance standards. The commitment to governance and transparency throughout this process reflects Celsius's dedication to rebuilding trust and credibility.
A Testimony from Chris Ferraro:
Chris Ferraro, Celsius' Plan Administrator and former Chief Restructuring Officer, emphasized that the company had kept creditors' best interests in mind. He stated that Celsius prioritized maximizing value and speed throughout the entire process, showcasing a dedication to ensuring a fair and efficient resolution for all involved parties.
Conclusion:
Celsius Network's ( LSE:CEL ) phoenix-like rise from the ashes of bankruptcy is not just a financial success but a narrative of resilience, collaboration, and commitment to ethical practices within the crypto industry. As Celsius draws the curtains on its tumultuous multi-year saga, it leaves behind a blueprint for navigating challenges, rebuilding trust, and contributing to the continued evolution of the cryptocurrency landscape.
CELUSDT LONG SIGNALHi, friends. Nice to meet you.
Currently, CELUSDT is moving at a very important point in 1d.
We believe that if we retest the order block right above, as it is now, we will be able to make a huge profit.
Celsius Coin Pumping! What's Next?Looking at CEL on the 4h, we can see it's had quite the pump the past few days. I've drawn major/minor support/resistance levels to show you best places to DCA/take profit.
Right now the 0.70 level is causing the most resistance (previous resistance Nov 10th). If we can break that level then I can see us climbing to 0.87 (previous support Nov 8th). If we can't break the 0.70 level then I'm looking for at least a retest to 0.62 for a possible double bottom or a further decline to 0.58 which is our second micro support (stemming from the areas of interest from Nov 11th-13th). If it continues to break downward then our major supports are 0.51 and 0.44 but I don't think we'll get there unless BTC has a big downturn as well.
If you enjoyed my TA or have any questions, please comment below or send me a DM :)
Celsius Token Future Potential Bump and Run Price ProjectionIf Cel can get back above the .236 Retrace and then the trendline i think it will make a dash towards the .886 Retrace then the 1.618 Fib Extension.
*This is a Repost of an existing setup on this coin but the chart i used was an FTX chart and ssiunce FTX's chart no longer exists i felt it necessary to repost the same setup but on a different exchange*
Celsius CEL highest risk - some reward Friday the S&P hit a new 52 week low, being oversold right now.
I expect a bounce in the stock market next week, which will determine a bear market rally in the crypto space too!
Celsius CEL is one of the cryptocurrencies that have a lot of potential for a bull run.
CEL/USDT
Entry Range: $1.30 - 1.41
Price Target 1: $1.61
Price Target 2: $2.10
Price Target 3: $2.70
Stop Loss: $1.15
Celsius is a high risk potential asset! It can also drop 90% from here!
Celsius Token Future Potential Bump and Run Price ProjectionIf Cel can get back above the .236 Retrace and then the trendline i think it will make a dash towards the .886 Retrace then the 1.618 Fib Extension.
Celsius CEL Bearish SentimentSeptember has major catalysts for the crypto market as well as for the stock market.
The Ethereum merge on September 6th, that will end on Sept 20, the inflation report on September 13 and the next FOMC meeting afterwards with the new interest rates hike.
That is reflected in the crypto space in general as a bearish outlook.
Celsius CEL has a negative overall sentiment recently.
I have the following price targets:
CEL/USDT short
Entry Range: $1.40 - 1.55
Price Target 1: $1.28
Price Target 2: $1.09
Price Target 3: $0.83
Stop Loss: $1.75
Celsius up 10x Since June 13th - big money knows something?High Octane Speculation
I think that the "big money" knows Celsius isn't going to stay bankrupt.
Not sure if it will restructure, get purchased, merge... whatever... think the big money is trying to hide their loading up (might even be the profit needed to get Celsius open again, or a insiders with big $)... who knows.
But for sure a dead company isn't pumping like this.
What you think?
The 2013 Dream RunWhat if eveyrone is wrong ,this would be the biggest V shape recovery in history , bigger and faster than the covid crash.
Plan for the next 350daysThis year might be boring for Bitcoin but come January 2023 we will start a massive relief rally going to next summer.
This year it's time to buy as much as possible and stack then ride the wave up to the 0.618 to 48k , it's also the 8/1 Gann Fan.
The Date you get when the 0.618 Fib and 8/1 Gann Fann cross is late June 2023 , I do also have a Fib date around that time as well to back this theory up.
So now instead of spot buying I will be buying BTC x3 leveraged tokens on bybit and selling them once we hit 0.618 , far better than to keep a trade open and pay funding rate fees for months, it's simply not worth hassle especially if you were going to use x3 for your trade to begin with.
In around 350days Bitcoin will be back at 48k and everyone will be bullish and call the start of the bull market and at that point we will nuke to create the classic cycle double bottom that's when you spot buy for long term position at the end of July 2024.
FALLING WEDGE CELSIUS CELUSDT
Hey tradingview! Here is a my view on Celsius Network and the falling wedge it has formed along with some insight on what happened with Celsius causing the downfall of the network! Make sure to LIKE my chart and FOLLOW me for more great content! Thanks
The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs.
While this article will focus on the falling wedge as a reversal pattern, it can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend.
CELSIUS NETWORK and its downfall
Key Insights:
Celsius has paused withdrawals and transfers on the platform since June 12.
The network’s management looked to avoid bankruptcy filing regardless of advisers and lawyers recommending filing for Chapter 11 bankruptcy.
Amid weakening market confidence Celsius’s position in the market remains shaky.
The eclipse on the crypto market has given way to unseen events that shocked market participants. First, the collapse of Terra’s LUNA and now the Celsius Network conundrum has given way to considerable skepticism in the cryptocurrency market.
Celsius Network LLC – a cryptocurrency loan company, had over $8 billion lent out to clients and $12 billion in assets under management (AUM) as of May 2022. However, in a surprising announcement, the firm announced on June 12 that it would stop withdrawals from its platform, citing ‘extreme market conditions.’
The revelation of Celsius halting withdrawals exacerbated the bearish market conditions in mid-June, briefly sending bitcoin’s price below $20,000. With the Celsius saga unfolding, many questions have spurred about the project, management, and the events surrounding the network over the last couple of weeks.
What is Celsius?
The Celsius Network is a centralized platform offering yields on various cryptocurrencies and digital assets, including bitcoin, ether, and stablecoins. The lending protocol has positioned itself like a bank but seems to operate more like a hedge fund.
Crypto lending is pretty much like savings accounts offered by traditional banks but with cryptocurrencies instead of fiat currencies. Like in a bank, for crypto lending protocols too, an investor opens an account, deposits cryptocurrency, and earns interest on the deposits.
Investors can either make deposits in bitcoin, stablecoins, or even lesser-known, more volatile cryptocurrencies. Protocols generally pay interest in the same currency deposited, which leads to varying profits.
Like other lending protocols, Celsius promises certain yearly returns that are subject to change; however, the protocol’s publicly advertised interest rates range from ‘up to 17% APY.’
The lending protocol allows users to borrow funds and use their crypto as collateral. Apart from Celsius, other protocols have also resorted to CeFi or centralized finance – an alternative to decentralized finance (DeFi), where users still work with a centralized intermediary.
Celsius promises a specific rate for users to deposit their funds on the platform. Over the last couple of years, the protocol attracted massive interest, and the company did exceptionally well.
Notably, the firm expanded its latest funding round to a massive $750 million in November 2021, reaching a valuation just above $3.25 billion.
The Celsius Saga
As the larger market battled the bearish blues, Celsius did the unthinkable – the network flat-out halted withdrawals and transfers, locking their users out of their money.
Interestingly, many in the market have compared Celsius Network to the Lehman Brothers, looking at the protocol’s failure that exacerbated a market crisis.
Celsius is rumored to be insolvent following a freeze on withdrawals since mid-June. The firm was founded in 2017 by Alex Mashinsky and S. Daniel Leon. As mentioned earlier, the lending protocol lent over $8 billion to clients per the company’s data.
After the recent withdrawal freeze, Coinbase, BlockFi, and Crypto.com have also announced job cuts. The happenings across the crypto-verse have added to the bearish waves in the market. Reportedly, Celsius has hired banking giant Citigroup, law firm Akin Gump Strauss Hauer & Feld, and management consultants from Alvarez & Marsal to explore potential financing options.
On June 28, Celsius’ management looked to avoid bankruptcy, regardless of advisers and lawyers recommending filing for Chapter 11 bankruptcy. A liquidity crisis has plagued the protocol for weeks as numerous rumors have surfaced around the network, of late.
Notably, crypto Twitter has been left bewildered by the Celsius Network continuing to pay weekly rewards despite pausing withdrawals two weeks ago. Apart from the short-term implications of the recent Celsius conundrum the overall trust in the network has also been affected.
Furthermore, Celsius’s position in the market can severely affect the crypto-verse. Celsius is one of the largest lenders in the industry, and if they start liquidating the same could lead to negative market momentum alongside bearish social sentiment.
Some participants and analysts have already speculated that the most recent declines and the rangebound market momentum could partly be because of the company selling.
For now, the larger market’s bearish momentum has added to Celsius’s tragedy, and it remains to be seen where the project would go from here.
Ready for the Saturday Night Special?Bitcoin now forming a bearish pennant on the lower timeframe a techincal target of breakdown is somewhere between 18000-19000 which lines up with the CME gap at 18.5k.
Sometime in the next 48hours we will get a move , now normally major events in Bitcoin happen Saturday morning (UTC), why I have no idea but if I were to speculate ,I believe its best time to catch most poeple away from the charts , these moves happen between 5-6am here in europe .
London 5-6am
New York 11-12am
Shanghai 11-12pm
You can see that most of europe and the US are sleeping at this time but its mid day in china and they are ready to nuke the market while you are asleep , happened many times last year on saturday morning here in europe.
Take a look at 2021
One more Gap left?Not posted a TA about gaps in years , not traded a gap in years , once we blasted off in December 2020 and hit 50k range I thought no chance we fill the two gaps (yellow circles) , gaps are a thing of the past no longer get filled.....
536 days later we fill the 25k to 27k gap and no we have one more gap to fill at 18.3k , this could be the bottom filling this dam CME gap , after this gap we have no lower gaps to fill only the new one created recently (blue circle).
CME is currently at 20k just 2k off the last lower gap to be filled if filling this gap is not the bottom and worst case max pain price would most likely be 14k.
Its also important to note that Bitcoin has never closed a weekly candle under the 200 weekly moving average and right now we are 10% under the 200 weekly .
CEL Celsius is pausing all withdrawals, Swap and transfers Celsius Network announced today that is pausing all withdrawals, Swap, and transfers between accounts.
I know that it sounds unrealistic, but i think that staked cryptos could de-peg from the real price of the asset and worth less.
I don`t know if CEL, Celsius Network, will go to $0, but such pause in the system is warring me.
Looking forward to read your opinion about it.
Celsius Price Analysis — June 13CEL tumbled by over 82% over the past 24 hours, falling from the $0.500 top to the $0.090 low yesterday. The lending protocol crypto has now tapped its lowest point on record. The emerging developments triggered a market-wide liquidation, with the total crypto market valuation shedding over 12% in the last 24 hours.
Notably, trading conditions are still not in overheated conditions, posing the possibility of a gap close to the $0.090 in the coming hours. However, Celsius could see heavy accumulation at this level as traders pick it up at a discount. With the broader market sentiment steeped in bearish territory, a meaningful bullish rebound appears out of reach in the meantime.
Meanwhile, my resistance levels are at $0.250, $0.350, and $0.500, and my support levels are at $0.150, $0.100, and $0.090.
Total Market Capitalization: $969.9 billion
Celsius Market Capitalization: $47 billion
Market Rank: #359
CEL CollapseWell, here's the next crypto to collapse completely
www.yahoo.com
Down 60% in the past 24 hours, will be trading under a penny next week.
Celsius (CEL) Short Predicted! With all of the recent Celsius drama going on (their insolvency and halting withdrawals), I'm going to cover some TA that predicted this short and could've saved you some money.
Looking at the 3D chart we can see a few things. First, I have the Whales buy-sell indicator and the VMC Cipher B. We can see CEL is clearly in a downtrend by the teal line I drew that's being respected as resistance every step of the way. Secondly, the purple lines are weekly support that are continuously being broken.
The Whales buy-sell indicator is great for predicting trends and is something I used in conjunction with the trendline resistance. You can see that multiple times whenever we came up to the trendline resistance, we also received a "Sell" signal. This caused me to enter shorts along the way and ignore any bullish signals I received. It's also more powerful when you receive a red dot on the VMC indicator AND a "Sell" signal at the same time (as highlighted near the beginning of 2022). This price action reminds me of LUNA and I'm not longing CEL at all, especially since I believe the coin will go to 0 soon because of their issues.
Both indicators, combined with my TA of trendline resistance and horizontal S/R helped keep me in my short positions and save money.
If you have any questions on the indicators I used or my TA, please leave a comment below or send me a DM :)
Bear market rally. Be careful. Buying opportunities to DCA. This market will mess with everyone's psychology. What an incredible time to buy! This is the time when you start to DCA into some major, well know crypto businesses and networks. I would be very careful who I own as regulation comes steamrolling in. I don't think this holds and I would be curious to see what happens in the stock market Monday morning. If it's a blood bath, crypto is going to tank. I am making sure I have orders open on strategic points for my favorite projects. This is the time when incredible money will be made a few years from now. Don't use leverage! If you were in Celsius and you just got liquidated, it ran almost 100% brighter after its low. Just be a buyer and hold if this is where you want to be.
Desperately defending the USD 2 levelSome are desperately trying to defend the USD 2 support.
Despite the weekly burn of tokens, the price vs USD continues to decline. The amount of outstanding tokens simply is way too large vs the amount of tokens burnt even if the company would grow tenfold.
The 6 amigos elected by the company have yet to make an impact - come up with a new service benefiting the token. The new C-levels haven't made any impact yet neither.
During yesterday's AMA they elaborated how difficult and time consuming it is to launch a credit card, spending extensive time on the design. When in fact people are interested in its features. And even Litecoin, with just a handful of volunteers, has a credit card out for more than a year, linking the Litecoin wallet with Visa.
Once the SEC fine or settlement is announced / public, CEL most likely will tank to USD 0.43 or even lower. BlockFi paid USD 100 mln for their non-registered investment account. Celsius had an unregistered investment rewards account AND unregistered security. Realistically the fine shall be much higher and possibly fining the founders as well.
