Wenzel Orf

Celsius [CEL] Price Rises 5% After Court Approves Settlement Agreement

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• Celsius Network [CEL] has received approval from the bankruptcy court to settle with its debtors and custody account holders.
• CEL’s trading volume and value have increased since the court’s approval of the settlement agreement.
• Technical indicators suggest that CEL is currently in a neutral position, indicating a period of consolidation or indecision among traders.

Celsius Network [CEL] Receives Court Approval for Settlement

The court has approved a settlement agreement between Celsius and its custody account holders. According to the settlement, those who opt-in may recover 72.5% of their cryptocurrency holdings. This indemnifies Celsius Network against any future claims by any opting-in custodial account holder.

Increased Trading Volume & Value

Following the court’s go-ahead for Celsius to make its custody account holders partly whole, CEL has seen increased trading in the past 24 hours. According to data from CoinMarketCap, the token’s value went up by 5% during that period, while trading volume surged by over 200%. Growth in an asset’s trading volume with a corresponding rally in its price is a bullish sign, and it often indicates that the price may continue to grow.

Neutral Position Indicated By Technical Indicators

At press time, CEL exchanged hands at $0.3784 and an assessment of the price relationship with Bollinger Bands indicator showed CEL trading on the middle line which suggests that there is little price momentum in the market due to uncertainty of what direction asset’s price might go next. Additionally, CEL’s key momentum indicators such as RSI & MFI have moved sideways with no major indication of any upward or downward breakout which could indicate a period of consolidation or indecision among traders.

Price Prediction 2023-2024

Read Celsius’s [CEL] Price Prediction 2023-2024 for more information about potential future growth of this altcoin based on current market conditions and trends.

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