Celestia launched on October 30, 2023, introducing an innovative approach to blockchain organization. It addresses the challenge of conventional blockchains' sluggishness in managing high transaction volumes. Consequently, the TIA coin surged by over 200% within a month after the launch. Now, How far might the TIA price climb after the halving? Let's take a look.
How has the TIA price moved in recent days?
Currently, the price of Celestia stands at $10.36, with a 24-hour trading volume of $881.33 million, a market capitalization of $1.84 billion, and a market dominance of 0.08%. Over the last 24 hours, the TIA price has increased by 2.25%.
The highest price point that Celestia has achieved was on February 10, 2024, reaching its all-time high of $20.85. Conversely, the lowest recorded price for Celestia occurred on October 31, 2023, when it dropped to an all-time low of $2.12. Since reaching its all-time high, Celestia's lowest price has been $7.61 (cycle low), while its highest price post-cycle low reached $11.69 (cycle high).
Currently, sentiment surrounding Celestia's price prediction is bullish, and the Fear & Greed Index reflects a value of 65, indicating a state of greed among investors.
Why is TIA Price Up?
The concept of modular blockchains gained significant attention last year following Celestia's ambitious announcement. Since then, this modular approach has gained momentum, leading to the launch of numerous data availability layers, supported by a thriving Layer 2 (L2) ecosystem.
In simple terms, modular blockchains are designed to specialize in one or two fundamental functions of a blockchain, leaving the remaining capabilities for developers to extend and build upon. For example, a modular blockchain like Celestia prioritizes data availability, while other functions are left to be developed independently on top of it.
Modular blockchains, such as Celestia, focus on specialized functionalities like data availability while allowing developers to customize and build additional features. This approach fosters innovation and scalability within the blockchain ecosystem, potentially attracting investor interest and contributing to the rise in TIA price.
How high will the TIA Price Go?
Based on the recent performance indicators of TIA, including trading above its 200-day Simple Moving Average (SMA) and experiencing 15 green trading days out of the last 30 (approximately 50%), the outlook for TIA's price appears optimistic. The sustained trading above the 200-day SMA suggests a positive long-term trend, indicating that TIA's price has been consistently higher than its average price over the past 200 days.
This is often interpreted as a bullish signal, signaling potential further price appreciation in the near term. Additionally, the significant number of green trading days in the recent month underscores robust buying interest and positive market sentiment surrounding TIA, further supporting the potential for upward price movement.
Furthermore, TIA's high liquidity, as evidenced by its market capitalization, contributes to its price stability and attractiveness to investors. A robust market capitalization indicates a sizable market presence and ample trading volume, which can help support price movements and reduce volatility.
Combined with the positive technical indicators, such as trading above key moving averages and strong buying activity, TIA's price may have the potential to continue its upward trajectory. However, it's important to consider that cryptocurrency markets are inherently volatile, and unexpected developments or market shifts can influence price movements. Therefore, investors should exercise caution and conduct thorough analysis before making investment decisions based on these trends.
So, the forecast for Celestia indicates a trading range between $10.30 and $48. If Celestia manages to reach the upper price target of $48, this would represent a potential increase of more than 365% for TIA, projecting its price to reach $48.
