Celsius (CEL) experienced an exceptional 300% growth in one month. The coin has now stabilized, and its direction is currently unclear.
Celsius Fundamentals Similar to a bank, Celsius (CEL) borrows from one set of clients, lends to others, and profits from the difference between the interest rate. However, CEL mostly works in the crypto space as it mainly borrows and lends in crypto. Additionally, it does not have any government deposit insurance, making it riskier than a traditional bank.
Celsius on the Chart Celcius experienced an exceptionally long ranging period this year from July to September. On September 10th, the price finally made a breakthrough, and CEL experienced an outstanding 300% growth in a single month. The coin reached an all-time high of $1.5. CEL is now stabilizing between $1.2 and $1.5.
Due to the swift and strong growth, the coin hasn’t created any support level on its way up. Therefore it is now in danger of failing all the way down to the $0.5 and $0.35 support levels.
An indicator that you can use to get early buy and sell signals on the daily chart is the MACD. The MACD indicates a buy signal when the histogram turns green and a sell signal when it turns red. The indicator works well to identify bull runs early and sell relatively close to the high. The MACD can be classified as both a trend-following and momentum indicator. Like all trend-following indicators, it tends to perform poorly in ranging markets.
Looking Ahead: The MACD is now about to turn red, indicating that the bull run may end. Since no support levels were established, it is better to time your next entry with technical indicators rather than support levels.
holders of Celcius gain a higher interest rate by holding the celcius coin. This has helped propel it's value, but I also think it will help maintain relative stability in the price.
krakenXIV
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It feels to me that you are not taking in account that most volume happens on Uniswap and the weekly buy backs from the team.
Combining those 2 factors and everything else somehow makes me skeptical of your $0.50 / $0.35 analysis.
Thoughts? =)
phillr0
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@RemcoKatz interested rates are the highest for crypto in the market if you hold >15% CEL. So people who are looking for investment (or inflation balancing) will need to buy CEL if they poor more of their crypto or fiat creating demand. Happy to get the source for uniswap volume
Celsius. Not Celcius. Spelling matters in this sphere. You get it right in the story, but not the headline.
And as @RemcoKatz says, the tokenomics of this are different to most other coins. Not saying a collapse to 0.5 is impossible, but demand for the coin is not shaped purely by market sentiment and now that customer numbers are starting to really ramp up, there's a weekly need for increasing quantities of CEL to pay us (yes, I'm a customer) our interest.
ProjectSyndicate
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thank you for sharing this intel. a bit wary of celsius, already pumped a lot. maybe it's time for a pullback?