CEL Token Appears to Be In Upward Momentum Channel
Over the last 12 months, CEL has remained in a strong upward channel, although has fluctuated between strong upward trends and "breathers" (consolidations) where it eases off for a bit (indicated with a red background).
In my humble opinion, the main reason for this strong upward trend is the unique tokenomics of CEL, which include:
Assuming these continue, I believe the next 6 months will be positive for the CEL token, and if it remains in the upward channel, it has the potential to reach the targets indicated.
In my humble opinion, the main reason for this strong upward trend is the unique tokenomics of CEL, which include:
- Celsius depositors buying CEL in order to gain access to higher interest rates
- Celsius borrowers buying CEL in order to gain access to lower loan interest rates
- Celsius buying US$1-2 million of CEL every single week on the open market in order to pay interest to users
- Significant user growth
- Consistent flow of new partnerships with crypto exchanges and other services
- New features which will continue to attract new users
Assuming these continue, I believe the next 6 months will be positive for the CEL token, and if it remains in the upward channel, it has the potential to reach the targets indicated.
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