CELO surges by 2% despite suffering a phishing attempt

CELO is up by more than 2% today despite the network suffering a phishing attack over the weekend.

CELO, the native coin of the Celo blockchain, is one of the best performers amongst the top 100 cryptocurrencies by market cap. The coin has added more than 2% to its value today, outperforming the broader cryptocurrency market.

The positive performance comes despite the Celo network experiencing a phishing attack over the weekend.

A phishing attempt occurred on 11/4/22 on the Celo network. Please remember that no one from the Celo community will ever ask you to share your recovery phrase.

— Celo (@CeloOrg) November 5, 2022

The Celo team informed its community members that the phishing attempt sent a small amount of CELO to Celo wallets, with a message to claim further “lottery” gains on fraudulent website(s). 

CELO’s positive performance also comes as the broader crypto market has also been underperforming so far today. The total crypto market cap continues to stand above $1 trillion. However, it is by more than 2% in the last 24 hours.

Bitcoin is still struggling to top the $21k resistance level and has lost more than 2% of its value today and now trades around $20,700 per coin. Ether is down by 3% in the last 24 hours and is now trading at $1,562 per coin.

Key levels to watch

The CELO/USD 4-hour chart has turned bullish as Celo has been performing well over the past few hours. CELO is currently outperforming the broader cryptocurrency market.

CELO/USD Chart By TradingView

The MACD line recently crossed into the positive zone, indicating that the bulls are now in charge of the CELO market. The 14-day relative strength index of 62 shows that CELO could enter the overbought region if the rally continues,

At press time, CELO is trading at $0.758 per coin. If the positive momentum is maintained, CELO could surge past the first major resistance level at $0.934 before the end of the day.

However, CELO could find it hard to top the $1 psychological level in the near term as the broader cryptocurrency market is currently bearish. 

Where to buy Celo now

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Disclaimer

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