Sun, February 25, 2024

Why Did CEL’s Price Drop 4+%?

crypto coins

The investigator starts looking into the Celsius network and its staff. Over the previous 24 hours, the cost of CEL has decreased by 4.57%. Trading and investor activity for CEL has slowed down.

According to a recent document, an examiner from JENNER & BLOCK LLP started an examination into CEL after Celsius filed for bankruptcy and ultimately became insolvent. At the time of publication, data indicates that CEL is trading at $0.9267, down 4.57% from where it was a day earlier. The overall daily trading volume for the token has decreased to $6,423,166 during this period, a decrease of 44.93% from the day before.

Should We Expect a Recovery Anytime Soon?

The price of CEL has now dropped from a high of $4.50, reached in the middle of August of this year. Since then, the price of CEL has fallen precipitously, hitting a low of $0.84546 around August. In the days that followed, the token’s price rose to a high of $3.00, and bulls saw a trading opportunity. CEL has now faced a %4+ drop in value.

The token’s price, nevertheless, has been falling ever since, and it currently trades at a lower level. The Bollinger Bands indicator shows that volatility and trading interest have both decreased. The previous two months have seen little activity and a flattening daily trade volume. Depending on the findings of the most recent inquiry into the project, a decline in the price of the token may result. Investors, on the other side, would view this as a chance for rapid profit margins. This will temporarily increase the price of CEL. As the CEL investigation was launched, the price of CEL fell by about 4%.

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