Cel, the native token of the Celsius network, returned from the dead, while the cryptocurrency jumped more than 70%. This occurs while the United States Ministry of Justice officially requested a 20 -year prison sentence for the former CEO of Cellisius, Alex Mashinsky.
The Doj accuses him of orchestrating a multi -year fraud which misleads investors, used customer deposits and manipulated and manipulate the price of the CEL market for a personal profit. His conviction is fixed for May 8, keeping Celsius firmly under the spotlights of Crypto.
After exchanging less than $ 0.06 earlier this month, the besieged token climbed almost 80% to a summit of $ 0.1785 before cooling at around $ 0.13.
From the Graphics Hearing: Cel becomes a speculative playground
The techniques confirm the break. The token broke its 21 -day EMA ($ 0.0857) and briefly exploited its 200 -day SMA ($ 0.1703) – a level not affected since December. RSI entered the exaggerated territory (75.73), while the MacD flashes an optimistic continuation.
The daily trading volume exploded, which suggests that this decision has a traction. The token increased by more than 83% in 14 days, the Momentum traders who are now looking at to see if the token can recover $ 0.18 and overturn it. If this is the case, the next psychological level is around $ 0.25 – still far from the past peaks but relevant for traders who seek volatility.
Its recent rally, up 83% in 7 days and briefly + 170% compared to the lows of April, is amazing, but the context is important. The token is still negotiating 98% below its $ 8 peak, with a market capitalization of less than $ 5 million, against $ 3.5 billion at its peak. It is not a recovery – it is a reflexive volatility triggered by a legal drama.
The potential 20 -year -old Mashinsky phrase refused CEL as an instrument based on a title for short -term speculation. This decision was probably accelerated by thin liquidity, a low float and potential short compressions, not fundamentals. With the rapid approach of May 8, the next candle may depend less on the graphics and more on the transcription of the courtroom.
In addition, Roni Cohen-Pavon, another high framework of the company in disgrace, was sentenced to his sentence in December.
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