Celestia Price Busts Market Dip With Monster +60% Rally Amid Ecosystem Boom

Jump into the latest TIA price analysis and uncover the impressive Celestia crypto rally, which has already added +60% in five days. Traders are upbeat, expecting TIA to extend gains above $12.

Crypto prices are stable, at least for now. Last week, top coins, including Celestia, Cardano, and Solana, plunged to multi-week lows.

Despite the recovery over the weekend and the first half of this week, bulls are not as firm as desired. Bitcoin, Ethereum, and XRP are bulls soaking in the deluge of shorts.

$TIA

One of the first coins to take the 4H 200s + 1D mkt structure flipped.

We recognize that strength.

This is where I would get involved. pic.twitter.com/5tzXmpuOHm

— Dyslexic Ventures (@DyslexicVenture) July 9, 2024

TIA Price Analysis: Celestia Price Surges +60% In 5 Days

However, amid this, TIA, the native coin of the modular platform Celestia, is quite literally flying.

The past two days have seen TIA defy the odds, posting a spectacular +60% spike and completely reversing losses of late last week.

Technically, this is impressive and could lay a solid foundation for buyers to build on, targeting $12 or June 2024 highs.

Even so, that would be only halfway through the journey.

(TIAUSDT)

After peaking at around $21, TIA has been printing discouraging lower lows, crashing by roughly 80% by last week. For this reason, Celestia is in a bearish formation. This outlook will only change once a conclusive close exceeds $12.

This means buyers must extend recent gains, resuming the uptrend of Q1 2024. The problem is that prices won’t rally simply because of favorable candlestick formation.

There must be other market-related or intrinsic factors to fan the uptrend. This week’s surge, for example, was surprising, but primarily because of what the platform offers.

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Fundamental Tailwinds: Will Celestia Crypto Dominate in Q3?

Some analysts think the upsurge is due to Celestia’s utility and its role in crypto.

Celestia employs a modular architecture, separating consensus from execution, leading to higher scalability.

The more it is scalable, the cheaper and more attractive it becomes for traders and projects.

Analysts note that when prices recently rose, a big portion came from the Orderly Network, a platform offering permissionless liquidity for on-chain trading markets.

As the demand for trustless perpetual trading grows, more transactions are routed through the Orderly Network.

(Source)

Coupled with the provision of a secure and highly reliable data availability layer in Celestia, Orderly Network has since processed hundreds of millions of transactions, helping pump TIA as a result.

Beyond data availability, the Celestia network is also secure and decentralized.

(Source)

Research data shows that there are more than 450,000 delegators, and nearly 730 million TIA have been staked by early July.

As prices recover, bouncing from the 2024 pit, TIA’s social dominance is rising. This means more traders are engaging, driving trading volume as a result.  

(Source)

According to CoinMarketCap data, the average trading volume is up 22% in the last 24 hours to over $250 million.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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