The court has approved a settlement agreement between Celsius and its custody account holders. CEL sees increased trading volume in the last 24 hours. On 21 March, cryptocurrency lending platform Celsius Network [CEL] received approval from the bankruptcy judge overseeing its bankruptcy case for a settlement agreement between the company, its debtors, the official committee […]
between the company, its debtors, the official committee of unsecured creditors, an ad hoc group of custodial account holders, and any non-withdrawal custody account holders.Per the settlement agreement, custody account holders on the platform who decide to opt in may recover 72.5% of their cryptocurrency holdings. The settlement agreement will indemnify Celsius Network against any future claims by any custody account holder agreeing to recover 72.5% of their crypto holdings.
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. Per , CEL’s weighted sentiment was a positive 0.151, suggesting that investors remain convinced of a further price rally.However, with many CEL day traders unsure of the exact breakout direction of the altcoin, the token’s price has traded sideways on a 12-hour window. At press time, CEL exchanged hands at $0.3784.
An assessment of the price relationship with the Bollinger Bands indicator showed CEL trading on the middle line. When the price of an asset is on the middle line, it suggests that the price is in a neutral position and it is neither overbought nor oversold. It is common in markets where traders decide to stay their hands due to uncertainty of what direction the asset’s price might go next.
While uncertainty plagued the day market, the silver lining was that buyers remained in control. A consideration of CEL’s Directional Movement Index confirmed this. The buyers’ strength at 26.77 was solidly above the sellers’ at 18.20.Subscribe to get it daily in your inbox.
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