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Celestia

Why Celestia (TIA) May Hit a New High After Recent DevelopmentsKey Takeaway i. The Celestia native token surpassed its previous ATH after it reclaimed $7. ii. The blockchain has new integrations with Arbitrum and Optimism. iii. TIA may retrace, but if the buying momentum retraces, the token may hit $8. The price of Celestia (TIA) briefly hit $7.48 on December 2, after the value jumped 4.16% in the last 24 hours. This value means the cryptocurrency reached a new All-Time High (ATH) after it had done so on numerous occasions since its launch. However, press time data from CoinMarketCap showed that TIA’s price had slightly decreased to $7.34. The retracement could either be a sign of decreasing buying pressure, profit-taking, or both. New Integrations Helps TIA Furthermore, there seemed to be other reasons that triggered a higher demand for TIA. One of which is the project’s recent integration with some Ethereum (ETH) L2s. On December 1, Celestia announced that it had integrated an Ethereum fallback. According to the modular blockchain project, L2s including Optimism’s OP Stack and Arbitrum Nitro were involved in the development. Details from the announcement showed that the Arbitrum Nitro would help in storing on-chain if primary data gets lost. OP Stack, on the other hand, would be responsible for preventing disruptions while ensuring that user funds do not get lost in between transactions. A development like this means market participants can trust the Celestia network better than before. So, it is also likely that these players decide to entrust their funds with the project’s native token. From the TIA/USD 4-hour chart, bulls were largely in control of the price action. This assertion was evident in the previous attempts by sellers to halt the TIA uptrend. TIA Bulls Leave Nothing to Chance For instance, sellers tried to pull down the movement at $6.42. But a sharp bullish candle implied that buyers were having none of that. Another attempt was made at $7.11. But like the previous one, it was quickly put out. However, TIA may retrace from the highs according to indications from the Relative Strength Index (RSI). As of this writing, the RSI was 73.71, suggesting that TIA was overbought. While there is a chance that the buying momentum may increase, the overbought conditions may also pull TIA down from $7.31. But if TIA’s price decreases, there is a chance that it could recover in no time. This was because of the Awesome Oscillator (AO). At press time, the AO was 09.5 while forming green bars with higher highs. As it stands, the cryptocurrency tends to hit a new ATH. But that would only happen as long as selling pressure does not overrun bulls’ dominance.
Long
by DEXWireNews
1
Celestia target $27!Hello, I put a fib extension on the Celestia chart and it turned out that the 3,618 level corresponds to the $24 price and the 4,236 level corresponds to the $27 price. From our point of view, it is a feasible target, at least in the first phase of the bull market, since Celestia is a solid project. Below is our fundamental analysis, which you can also find on our Celestia website SOCIAL & MASS MEDIA: Score 8 out of 10 AUDIT & SECURITY: Score 6.3 out of 10 TOKENOMICS: Score 3.6 out of 10 ECOSYSTEM DEVELOPMENT: Score 8 out of 10 TEAM & DEVELOPERS: Score 8.8 out of 10 PRODUCT & UTILITY: Score 4.8 out of 10 PARTNERS & INVESTORS: Score 7.5 out of 10 OVERALL SCORE: 6.56
Long
by coin_score
1
CFX CRITICAL RESISTANCE LINE AND RISING WEDGEIn this logarithmic chart of BINANCE:CFXUSDT is the near yearly resistance line of the coin. I started to assess this trendline after its pump last week and price consolidation has been observed near on the resistance. Also, sharing this rising wedge pattern below that could be a sign of rejection of the pump and reversal of the uptrend. Presented in yellow arrow line is the bearish divergence from my indicator, RSCD (RSI MACD) forming a lower high and the price forms a higher high. The diagonal support line is also presented. In my view, breakdown can happen but to the point of forming another diagonal support since there would be people who would still want to buy from the pump. But if not, I plotted the potential support lines by using Fibonacci retracement. The coin could enter a reversal but if in case it regains a momentum to breakout on the wedge. I would consider these two potential resistance lines. (1) Currently, the coin has touched the 0.5 resistance level multiple times as it tries to touch again and possibly breakout. With that, consider the 0.618 Fib level. (2) I would also consider the .382 Fib level from its higher high on the daily timeframe. Backtesting this trendline had some events of being a critical trendlines (support and resistance) of the price movement. Overall, based on the structure above, we will see BINANCE:CFXUSDT rejected past the long trendline with a rising wedge pattern on its current movement, favoring a bearish trend. Always PLAN your trades. Happy trading!
Short
by luigi360swirl