The insolvent Crypto-Lending Company Celsius could apparently be acquired by a large company within the crypto industry.
Afterwards explode the Course des CEL Coins literally.
Since the June low, the price of the Celsius cryptocurrency is gaining incredible 2850 Percent. This corresponds to a multiplication by the factor 28.5 X.
+2850% Price performance of the CEL Coin since June 2022
We analyze the CEL Coin in our course analysis and inform you about the details of the takeover rumors about Celsius.
Current market information on the cryptocurrency Celsius (CEL)
Celsius share price boosted by possible Ripple takeover
After various microeconomic events in the crypto sector caused severe liquidity problems for the crypto payment provider Celsius, the latter had to file for insolvency.
Ripple comments on potential acquisition
Assets of customers who are responsible for generating Crypto Interest Rates have been used, are still not ready for payment.
Based on the popularity of Celsius, a takeover is fundamentally interesting for currently highly liquid companies.
According to the Reuters news agency, no smaller crypto company than Ripple be interested in taking over Celsius.
Ripple Labs interested in bankrupt crypto lender Celsius’ assets
San Francisco-based blockchain payments company Ripple Labs Inc, which is embroiled in a high-profile battle with the U.S. securities regulator, is interested in potentially purchasing assets of bankrupt crypto lender Celsius Network, according to a company spokesperson.
Both companies have their own cryptocurrency.
Ripple is behind the XRP Coin, which, with a market capitalization of 18.8 billion US dollars, is in 7th place of all cryptocurrencies.
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“Ripple has continued to grow due to the turmoil in the crypto market and is actively looking for M&A opportunities to strategically scale the company”
said the responsible spokesman.
M&A stands for Mergers and Acquisitions and means the Acquisition of companies.
With regard to the crypto-interest company Celsuis, Ripple expresses itself as follows:
“We are interested in learning about Celsius and its assets and whether they could be relevant to our business”
Additional details regarding a potential acquisition have not been provided at the current time.
Short Squeeze Makes CEL Coin Price Explode
Due to the insolvency filing in June and the generally poor market environment, the CEL Coin lost up to 98% of its value, starting from the all-time high.
Consequently, the number of Short sellers, so-called short seller, too.
Short selling refers to trading options against the course of a cryptocurrency. In our case, the traders bet against the CEL Coin price.
In practice, this means that the further the price of the CEL Coin falls, the more the yield of the short sellers improves.
Due to the significant price increase of CEL, many traders had to Close Short positionto limit further losses.
Total amount of closed CEL short sale positions
In addition, a large part of the short positions were automatically closed due to so-called Margin calls closed.
On August 12 alone, CEL short selling positions worth $4.20 Million closed.
Thus, the sales volume fell towards zero, while the purchasing power remained stable.
The result: on August 13, the price of the CEL Coin increased by over 70 percent within 6 hours to.
Price performance of the cryptocurrency Celsius (CEL) since June
In chart analysis, this is referred to as a short squeeze.
Chart analysis: basics, key figures and tips (2022)
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Further insights into the chart analysis can be found here
CEL Coin Chart analysis and Price Forecast: Further price increases for Celsius?
To conclude our CEL Coin Price Analysis of course, let’s look at the cryptocurrency chart.
We will focus on the strong price momentum on August 13th.
As already described, a lot of short positions were closed on August 12 or had to be closed.
Consequently, the ratio of buying and selling power was very unbalanced.
That Purchase volume dominated the CEL Coin, as shown in the chart below the price at the big green volumetric candle is also recognizable.
With the help of the strong increase in volume, a break out of the white structure was achieved.
This chart formation will Bull Flag call.
After the breakout in this case, along with the significantly increased volume, a sharp increase in the course follows.
In the case of the cryptocurrency Celsius (CEL), the price increased by whole 60% within a few hours to.
CEL Coin on the 2-hour chart on Tradingview
The CEL Coin is currently trading at 3.77 US dollars.
The 4 USD mark is in the further course of the course as Price resistance consider.
If the CEL Coin succeeds in maintaining the price support of $ 3.50, a consolidation at this price level is likely.
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