- Celsius Community to file a movement to increase the deadline inside which its customers can submit their claims.
- CEL, on a each day chart, exhibited varied indicators of bullish and bearish divergences.
Bankrupt crypto lender Celsius Community, in a collection of tweets revealed on 29 December, introduced its plans to request an extension of the deadline for its customers to submit their claims.
Celsius is making ready to file a movement later this week requesting an extension of the bar date, which is the deadline to file a declare, from January 3, 2023, till early February.
— Celsius (@CelsiusNetwork) December 29, 2022
Based on the disgraced lender, the extension of the timeline was in order that it might:
“Present account holders with extra time to file any proof of declare.”
The present deadline of three January could be prolonged till a minimum of 10 January, when the chapter courtroom will hear the movement. Then, if permitted, the deadline could be prolonged till early February.
The collectors of the crypto lender are reportedly rising anxious as the corporate’s administrative charges proceed to build up since its July chapter submitting. Based on a latest report from the Financial Times, the charges charged by bankers, attorneys, and different advisers within the chapter case have reached $53 million till press time.
Learn Celsius Community’s [CEL] Value Prediction 2023-2024
This raised considerations amongst collectors as the corporate sought to increase the deadline for customers to submit their claims. Many have deemed this to be a delay tactic by Celsius to flee full restitution of owed sums.
Simply finish this delay tactic and cease losing our cash. Nobody needs to be part of a reorganization or something that has something to do with celsius. Give us again our funds we want asap
— CryptoRAIN ©️⚡️ ₿ (@CryptoRAIN6) December 29, 2022
CEL struggling to push again bears
As of the time of writing, Celsius’ native token, CEL, exchanged fingers at $0.4576, knowledge from CoinMarketCap revealed.
After the FTX debacle in early November induced the altcoin to shut the buying and selling month at an index value of $0.50, as FUD step by step left the market in early December, the worth per CEL rallied to commerce at a excessive of $0.76 on 8 December. This represented a 52% progress in value in only a week.
The worth rally, nevertheless, didn’t final lengthy. After peaking on the $0.76 value excessive, CEL’s worth quickly dropped by 41% till press time.
An evaluation of CEL’s efficiency on a each day chart revealed constant progress in its Cash Movement Index (MFI), at the same time as its value declined prior to now three weeks.
This created a bullish divergence that indicated that robust shopping for strain lingered within the CEL market, and its buyers had been keen to purchase the token at the same time as its value fell.
Nevertheless, a better have a look at its Transferring Common Convergence Divergence (MACD) painted a clearer image. Previously three weeks, the 12-period EMA had been positioned above the 26-period EMA, which meant that the MACD had proven bullish indicators.
What number of CELs can you purchase for $1?
Nevertheless, a constant decline in value inside the identical interval indicated that the bullish development within the MACD was not robust sufficient to beat the downward strain on the worth.
Therefore, though buyers remained eager on accumulating, the bears’ willpower to maintain the worth down exceeded the bull’s willpower to make sure an additional rally. The place of the Relative Energy Index (RSI) at 40.34 and the Chaikin Cash Movement (CMF) at -0.42 confirmed this.
Supply: TradingView