Celestia Loses Momentum: Anticipating A Rebound Post 11% Dip
22 November 2023 - 8:00PM
NEWSBTC
Celestia witnessed a notable decrease in its price over the current
week, indicating the conclusion of its recent upward trend.
Celestia’s total market capitalization dropped below $800 million
as a result of this decrease. Tuesday’s low for TIA was $5.4, the
lowest since last week, and represented a significant 20% decline
from the stock’s highest point earlier this year. TIA, currently
trading at $5.85, has shed 11% in the last 24 hours, based on
latest data. Related Reading: Binance Drama Causes Crypto Prices To
Dance On The Edge – Details Celestia Tallies Over 200% Rally After
becoming public in October, the TIA token experienced a remarkable
232% increase, peaking at $7.50. Celestia’s overall market
capitalization was close to $1 trillion at its peak. Celestia had
been a notable performer in the cryptocurrency industry before the
current setback, especially after its successful airdrop earlier in
the year. With minimal sell pressure disrupting the members’
enthusiasm, Celestia accomplished what prior airdrops, like
Arbitrum, were unable to: TIA mounted a prolonged upward move after
the airdrop distribution. TIAUSD trading at $5.8 on the 24-hour
chart: TradingView.com Significant upward trends in key
cryptocurrencies such as Tron, Solana, and Bitcoin were the reason
for Celestia’s success in the wider crypto sector. Generally
speaking, airdrops work best when cryptocurrency values are rising.
Meanwhile, Celestia’s price is going up to retrace back into the
breakout channel. Its native token, Buyers quickly picked up
on the retracement dump, which put the Celestia price back above
the important lower trendline support in the breakout trade
channel. During the pullback, there was a second indication of a
supply zone between $4 and $5, which suggests that this could be
the bottom of a new range below $7. Celestia bills itself as the
first blockchain network that is modular and evolves with the
amount of users within its ecosystem. This facilitates the
cost-effective and simple launch of blockchains. TIA seven-day
price action. Source: Coingecko Growing Ecosystem The ecosystem of
Celestia is still tiny yet expanding. A few components of its
ecosystem are Aether Games, Berachain, Cartesi, Astria, and
CosmWasm. However, as of late, there hasn’t been any significant
activity on the chain, subdued its activity. Related Reading:
Bitcoin About To Smash The $38,000 Barrier – Decoding the Next
Moves Celestia is a modular blockchain that can grow with the needs
of its users in an efficient manner. Since its debut, it has
expanded dramatically, and most recently, the Celestia
cryptocurrency recently tallied an impressive 170% price surge that
generated a lot of interest in it. With support from OKX, the
network just opened its mainnet and distributed airdrops to more
than 190,000 users, even though over 610,000 users were qualified.
Source: TradingView TIA Could Hit $10 According to the on-chart
data, its market valuation of nearly $795 million places it as the
64th largest cryptocurrency at the moment. Analysts believe that
Celestia’s price might reach as high as $10.59 by the first quarter
of 2024, despite its most recently declines. (This site’s content
should not be construed as investment advice. Investing involves
risk. When you invest, your capital is subject to risk). Featured
image from Adam Krypel/Pexels
Celestia (COIN:TIAUSD)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Celestia (COIN:TIAUSD)
Historical Stock Chart
Von Jun 2023 bis Jun 2024