Why is Celsius’s CEL token up by 28% in the last 24 hours?

Celsius is the best-performing cryptocurrency among the leading 100 coins by market cap over the last 24 hours. The cryptocurrency market has proceeded its positive start to the week in spite of some coins and tokens currently underperforming.

The marketplace has included less than 1%to its worth in the last 24 hours, with the complete market cap now over$ 1.1 trillion.

Bitcoin is up by 0.38%in the last 24 hours however didn t have enough momentum to rise past the $24k resistance level regardless of trading in the green area. Ether, the second-largest cryptocurrency by market cap, is up by more than 2 %in the last 24 hrs and presently trading at $1,772 per coin.

However, CEL, the indigenous token of the Celsius system, is up by more than 28%in the last 24 hours, making it the best-performing cryptocurrency amongst the leading 100 coins by market cap.

– At press time, CEL is trading at$1.9 per coin. This stands for a 300%rise in rate over the previous few weeks as CEL dropped listed below$1 after Celsius halted withdrawals on its system a couple of weeks back. Good Morning #CelShortSqueeze Gang ️ Are you individuals getting$CEL as well as generating income?!

CEL has been rallying as investors on Twitter took the opportunity to press the token cost higher, comparable to what they finished with the GameStop supply last year. Key levels to watch

The CEL/USD 4-hour graph is incredibly bullish as

Celsius has actually been executing excellently over the past couple of days.

The MACD line is deep right into the positive zone, indicating a strong bullish momentum for CEL. The 14-day relative toughness index of 87 programs that CEL is currently in the overbought area.

If the bulls stay in control, CEL could rally past the very first significant resistance degree at $2.125 before completion of the day. In the event of an extended rally, CEL might break past the $2.5 mark for the very first time given that April 2022.

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