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Wednesday, October 5, 2022
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    HomeMarketCEL surges by 11% today despite poor market performance

    CEL surges by 11% today despite poor market performance

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    Celsius token is the perfect performer amongst the highest 100 cryptocurrencies available in the market at this time.

    CEL, the native token of the Celsius platform, is the perfect performer amongst the highest 100 cryptocurrencies by market cap. CEL is up by greater than 11% within the final 24 hours, outperforming the broader market within the course of.

    The rally comes because the broader crypto market is underperforming. The crypto market has misplaced roughly 5% of its worth within the final 24 hours, with the overall market cap now round $1.1 trillion.

    Bitcoin might slip under the $23k help degree quickly after dropping greater than 1% of its worth to date at this time. Ether is down by greater than 5% at this time and is now buying and selling round $1,840 per coin.

    CEL’s rally comes regardless of a report two days in the past revealing that the crypto lender Celsius would run out of money by October.

    A brand new court docket submitting Monday from Kirkland & Ellis, a regulation agency Celsius employed to guide its restructuring efforts, revealed this newest improvement. The crypto lender had already filed for chapter and halted withdrawals on its platform roughly three months in the past.

    Key ranges to observe

    The CEL/USD 4-hour chart is bearish regardless of Celsius performing excellently over the past 24 hours. The technical indicators present that CEL is recovering from a latest hunch.

    The MACD line is inside the unfavourable zone however is surging greater and will enter the constructive area if the present momentum is maintained. The 14-day RSI of 49 exhibits that CEL is now not within the oversold area.

    At press time, CEL is buying and selling at $2.8245 per coin. If the rally continues, CEL might surge previous the $3.385 resistance degree earlier than the top of the day.

    Nevertheless, except there’s a breakout within the broader market, CEL might discover it onerous to maneuver previous final week’s excessive of $3.9 per coin.



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