The native token of bankrupt crypto lending company Celsius has been surging lately. Celsius (CEL) has witnessed gains that are not attributed to any known update. Even the technical metrics by TradingView suggest that the Celsius crypto is a Strong Buy currently! The company that launched the crypto literally is in ashes whereas CEL is seeing the beautiful bright sun. This is what has gotten the investors to go gaga over its gains. But the ones who do not know much about this digital currency are wondering what is celsius crypto. So let’s answer that first.
What Is Celsius Crypto?
The Celsius CoinMarketCap page defines the CEL token as:
“An all-in-one banking and financial services platform for cryptocurrency users. Launched in June 2018, it offers rewards for depositing cryptocurrency, along with services such as loans and wallet-style payments. Users of the platform receive regular payouts and interest on their holdings. Celsius’ native token, CEL, performs a variety of internal functions, including boosting user payouts if used as the payment currency.”
Celsius Coin Price Performance
Celsius crypto saw a price surge of over 60% on Saturday. Celsius coin price was up by 61.53% and it traded at $3.99 at the time of writing on Friday, August 13, 2022. The market capitalization of the CEL token stood at $947.84 million, gaining 60.59%. The 24-hour trade volume also skyrocketed by a whopping 277.77% and was at $68.3 million.
The Celsius CoinMarketcap page data shows that the crypto recorded the day’s high at $4.03, which is also the month’s high. In addition, the CEL saw a huge increase of 209.28 in the last 7 days, which is commendable considering the fall of its parent company. Also, the crypto market was bearish yesterday but CEL managed to survive it. However, even after the impeccable gains, the CEL crypto traded over 50% below its all-time high (ATH) of $8.01, which was recorded at the beginning of 2021.
The Summary provided by TradingView indicates that the Celsius crypto is a ‘Strong Buy’ currently with 17 indicators suggesting a buy, 8 indicating that it’s a ‘hold’ (neutral), and 1 pointing toward a ‘sell’ action. The Moving Averages data, in line with it, suggests that CEL is a ‘Strong Buy’ today with 14 indicators supporting that. The 50-day Exponential Moving Average (EMA) stood at 1.3580, indicating an action of buy. In addition, the 50-day Simple Moving Average was at 0.9852, suggesting the same. Moreover, the current CEL price is far above these moving average metrics, therefore, the price trend is upwards.
The Oscillators suggest that it is a ‘buy’ with 3 indicators supporting that while 7 suggest a ‘hold’ (a neutral trade action), and 1 pointing towards a sell. The Relative Strength Index value was 93.7157, indicating a neutral trading action. On the other hand, the metrics like Momentum, MACD level, and Ultimate Oscillator, suggest that the crypto is currently a buy. Overall, the technical metrics provided by TradingView, indicate that the CEL token is a buy if not a ‘Strong Buy’.