Connect with us

Analysis

Celsius CEL price spikes 500% in 30 min – retraces to 115% up on day

Published

on

Celsius CEL price spikes 500% in 30 min – retraces to 115% up on day

Celsius CEL price spikes 500% in 30 min – retraces to 115% up on day Liam ‘Akiba’ Wright · 7 hours ago · 2 min read

FTX › Price Watch

Amid the chaos and rumors of Celsius’ liquidity problems, the price of its native token jumped to the highest price since April reaching $2.56 on FTX.

Advertisement

2 min read

Updated: June 14, 2022 at 9:18 pm

Cover art/illustration via CryptoSlate

👋 Want to work with us? CryptoSlate is hiring for a handful of positions!
Advertisement

The native token of the Celsius (CEL) exchange just jumped over 500% from $0.33 to $2.56 in a matter of minutes. The token, which had been climbing steadily throughout the day, saw a massive spike in volume and rocketed to the highest price since April 12th.

Source: TradingView

However, the revival was short-lived as the price dropped back to $0.56 within minutes. At the time of writing, the price is still up 115% on the day, opening at just $0.26.

The surge was not isolated to a single exchange, with BitFinex, FTX, Gate.io, and OKEX all experiencing similar pumps. However, the highest peak was FTX, suggesting a large market buy on the top US exchange.

There has been a wealth of rumors, speculation, and chatter regarding the liquidity of Celsius over the past few days. As the price of Bitcoin (BTC) plummeted earlier in the day, many were watching the Celsius vault on Maker protocol. As Celsius added collateral to the vault to stave off liquidation earlier in the day, this price spike is highly unusual.

The cause of the pump is currently unknown as this is a developing story.

Advertisement

UPDATE 18:43 BST: The strange trading level continues as the CEL price wicks down to $0.09 on BitFinex before stabilizing around $0.55

Source: TradingView

Amid the unusual trading activity, some users are reporting that they experienced issues trading $CEL on FTX with orders being unexpectedly canceled.

Another day another problem with FTX. I’ve been trying to close my CEL position for the last 5 minutes. Each attempt guves me a “success” then cancels the order. Now it’s nuking and I’m trapped. Thanks @SBF_FTX @FTX_Official pic.twitter.com/V16suUDZbj

— Ponzi Trader (@buyerofblood) June 14, 2022

Advertisement

Analysis

Biggest Movers:  XRP Up By Nearly 15%, As AVAX Climbs To 12-Day High On Friday

Published

on

Biggest Movers:  XRP Up By Nearly 15%, As AVAX Climbs To 12-Day High On Friday

XRP rose by nearly 15% during today’s session, climbing to its highest point in over a week in the process. This rise in momentum within the crypto market also saw AVAX hit a 12-day high, following a gain of over 11% on Friday.

XRP

Bullish pressure in XRP intensified on Friday, as prices rose to their highest point in over a week during today’s session.

Today’s surge saw XRP/USD rally to an intraday high of $0.3847, which is its highest point since June 11.

Advertisement

Overall, prices are currently 13.6% higher than Thursday’s low of $0.3244, and this comes after a marginal breakout of a key price ceiling.

XRP/USD – Daily Chart

This resistance point was at the $0.3800 mark, and was broken as short-term momentum continued to move upwards.

Looking at the chart, the moving average of 10 days (red) confirms this shift in direction, with the trend now heading higher.

In addition to this, the 14-day RSI is tracking at its highest point in over three months, after hitting a high of 50.71 earlier today.

However, this point is also a resistance level, which is why earlier gains have somewhat eased, as some bulls likely liquidated positions.

Advertisement

Avalanche (AVAX)

AVAX was another notable mover to end the week, as prices moved close to a key mark of $20 on Friday.

Following a slow start to the week that saw AVAX/USD hit an all-time low of $13.53, prices rose to a peak of $19.97 earlier today.

This move saw prices rise by as much as 13% in the day, with bulls attempting to break out of the current ceiling.

AVAX/USD – Daily Chart

Despite this rise in bullish pressure, the resistance of $20 has so far held firm in today’s session, with prices now trading at $19.29 as of writing.

One reason for this might be that we have also seen the Relative Strength Index hit a ceiling of its own.

Advertisement

As a result of this, we may not see enough bulls re-enter the market to help lead a breakout of the $20 level.

Do you expect AVAX to break out of this resistance this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Advertisement

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement
Continue Reading

Analysis

Bitcoin, Ethereum Technical Analysis: ETH On The Cusp Of $1,200 Following Breakout Of Key Resistance Level

Published

on

Bitcoin, Ethereum Technical Analysis: ETH On The Cusp Of $1,200 Following Breakout Of Key Resistance Level

Bitcoin edged marginally higher on the last Friday of the month, breaking out of its recent resistance of $21,100 in the process. ETH was also in the green during today’s session, climbing by nearly 5% to move past a price ceiling of its own.

Bitcoin

Following a turbulent week of trading, BTC was once again higher on Friday, as prices moved above $21,000 heading into the weekend.

Less than a day after trading at a low of $20,233.56, BTC/USD rallied to an intraday peak of $21,266.39

Advertisement

Friday’s flurry of trading saw prices move past a key resistance point of $21,100, and this comes as bulls continue to buy the recent bitcoin dip.

BTC/USD – Daily Chart

After overcoming today’s hurdle, it is likely that traders will target this week’s high of $21,700 over the course of the weekend.

Looking at the chart, should this level be achieved, we will likely see many bulls choose to secure gains and exit positions, due to an upcoming ceiling on the 14-day RSI.

This hurdle is the 36.70 point on the Relative Strength Index, which is currently tracking at 35, and is firmly in oversold territory.

Ethereum

Ethereum was fast approaching $1,200 on Friday, as bullish momentum took prices above a key level of resistance.

Advertisement

After almost falling below $1,000 during Thursday’s session, ETH/USD surged to an intraday high of $1,191.27 as of writing.

This peak saw the world’s second largest crypto token trade nearly 8% higher than yesterday’s floor, breaking the $1,190 ceiling in the process.

ETH/USD – Daily Chart

As discussed yesterday, this level was one of the only hurdles in place preventing prices from re-entering the $1,200 region.

Today’s mounting pressure from ETH bulls comes after the 35.60 ceiling of the 14-day RSI was broken on Thursday.

With a breakout likely later in today’s session, the only question is where bulls will choose to exercise an exit.

Advertisement

How high do you expect ETH to climb this weekend? Leave your thoughts in the comments below.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Advertisement
Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement
Continue Reading

Analysis

Biggest Movers: MATIC Climbs 25%, Re-Enters Crypto Top 20 

Published

on

Biggest Movers: MATIC Climbs 25%, Re-Enters Crypto Top 20 

MATIC moved back into the cryptocurrency top 20 on Thursday, as prices rose by over 25% in today’s session. The token replaced FTT, which entered the list following declines in MATIC on Wednesday. ATOM also rose today, hitting a 12-day high in the process.

Polygon (MATIC)

MATIC was one of the standout movers in crypto markets on Thursday, as the token re-entered the top-20 list.

Following a low of $0.4042 on Wednesday, MATIC/USD surged to an intraday peak of $0.5145 earlier today.

Advertisement

This move saw MATIC become the world’s 18th largest cryptocurrency by market capitalization, all while hitting an 11-day peak.

MATIC/USD – Daily Chart

Despite these gains, it appears that bulls are looking towards the ceiling of $0.6650 as the next price target.

Overall, MATIC has risen by over 25% in today’s session, with its seven-day average now nearing a 30% increase.

In addition to this, the 14-day RSI is tracking at its highest point in over three months, after hitting a high of 48.64 earlier today.

All in all, sentiment seems to be firmly bullish in the short-term, however traders will see if this matures into the mid-term.

Advertisement

Cosmos (ATOM)

ATOM also rose to an 11-day high on Thursday, as prices rose for a fifth consecutive session.

Following a breakout of its floor at $5.50 last week, which saw prices hit their lowest point since January 2021, ATOM bulls re-entered the market with full force.

As a result of this short-term rise in bullish sentiment, ATOM/USD rose to an intraday peak of $7.73 earlier today.

ATOM/USD – Daily Chart

This gain means prices are now trading nearly 12% higher than yesterday’s lows, sending them to their most valuable level since June 12.

Looking at the chart, this uptake in momentum has meant that the moving average of ten days is now nearing a potential cross with that of the 25-day SMA.

Advertisement

Should this occur, then we will likely see prices not only reach, but breakout of, resistance at $10.

Do you expect ATOM to break out of this resistance before the month ends? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Advertisement

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement
Continue Reading

Trending

Get our daily News updatesSignup to get instant updates straight to your email