💰💰Massive Rally from the Altcoin Rising from the Ashes: The Price is Playing for the Top! 💰💰

On September 23, 2024, it reached $ 0.5491, showing an increase of more than 62%. In the same period, the market value also increased by more than 60%, reaching $ 20.71 million. In the last 24 hours, the trading volume exceeded $ 24 million, increasing by more than 84%.

This rise came after a long period of Celsius volatility. The trading chart shows an upward trend, indicating increasing demand for the altcoin. The Relative Strength Index (RSI) reached 90.91, indicating an overbought situation. Generally, a value above 70 indicates that the asset is overbought and a correction may occur. Bollinger Bands also continued to expand during this period, indicating strong price movements. The rapid expansion of these bands generally indicates high price volatility. CEL has been rapidly advancing between these bands, rising to $0.3735, well above the lower support level of $0.1753.

Celsius Network is Gaining Attention Again

This rally has emerged as a result of the increasing interest in Celsius Network. The altcoin filed for bankruptcy in July 2022. The company has recently begun restructuring and plans to return over $3 billion in assets to its creditors as part of the bankruptcy process. Celsius also continues some of its operations through a new mining venture, Ionic Digital Inc. This new entity is preparing to go public; this development could contribute to the renewed interest in the Celsius network and the recent price increase.

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