Celestia’s TIA Token Bounces Back After 68% Drop, Posts 16.4% Gain Overnight

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In a scintillating series of events, the modular data availability (DA) network Celestia’s native token, TIA, saw its value experience a roller-coaster ride. After an alarming 68% drop from a peak of $20.85 on February 10th, the tokens dramatically rebounded, ranking as the day’s top-performing token in the market, with a whopping 16.4% increase within a span of 24 hours. As of Tuesday, it was trading robustly at $6.78.

The tragic fall of the TIA tokens to an 8-month low of $4.16 on Friday, July 5, sent ripples across the market. The plummeting prices of other sizable cryptocurrencies, paired with cautious sentiment among bullish investors, seemed to be the culprits behind the shocking slump. However, recent stirrings within the market rekindled the dimming interest in Celestia, pushing it to regain vital markers that forestalled a larger surge in value.

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Navigating through treacherous territories, the TIA tokens are now faced with a formidable resistance wall — its 200-day exponential moving average (EMA) standing tall at $7.74. This barrier, identified by the yellow line on the TIA/USD daily chart, is set to pose a critical milestone. But if the bullish trend perseveres, the tokens have the potential to extend their surge, catapulting them beyond this substantial hurdle.

Celestia’s journey, however, is riddled with more obstacles before reaching this milestone. One such impediment is the potent resistance level at $7.26. This barrier is set to serve as an 8-month threshold for bearish investors to stave off a potential continuation of the current rally.

Market expert and technical analyst, DeFiSquared, sheds light on the recent upswing of Celestia. Despite the current pessimistic market conditions, Celestia distinguishes itself as a blockchain infrastructure that engenders “real and useful activity.”

DeFiSquared took to social media to mention that a substantial chunk of the data posted on Celestia stems from the Orderly Network. This network enables permissionless liquidity for on-chain perps markets—a sector with steadfast and burgeoning demand. It controls a notable segment of the market’s volume, carrying out more than half a billion daily trades.

Celestia’s crucial role as an infrastructure pillar that enables secure and permissionless liquidity for the on-chain perps markets can’t be overstated. This affords it a favorable position for a strong market bottom. In the light of this, the ongoing Modular Summit, where Celestia leads the charge, fuels a positive sentiment around the project. To put it into perspective, there’s been a 40% surge in TIA token trading, amounting to a colossal $206 million over a span of 24 hours, according to CoinGecko data.

DeFiSquared went on to expound that traders poised to short the current upward trend and negative funding rates on perpetual trading are indicators suggestive of a potential market bottom, painting an optimistic future for Celestia.

The additional stability is having insiders unable to sell their holdings due to their vesting cliff being 100+ days away. This lack of insider transactions proves to be a particularly promising sign for the reinforcement of the delicate market balance.

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Melinda Cochrane is a poet, teacher and fiction author. She is also the editor and publisher of The Inspired Heart, a collection of international writers. Melinda also runs a publishing company, Melinda Cochrane International books for aspiring writers, based out Montreal, Quebec. Her publication credits include: The art of poetic inquiry, (Backalong Books), a novella, Desperate Freedom, (Brian Wrixon Books Canada), and 2 collections of poetry; The Man Who Stole Father’s Boat, (Backalong Books), and She’s an Island Poet, Desperate Freedom was on the bestseller's list for one week, and The Man Who Stole Father’s Boat is one of hope and encouragement for all those living in the social welfare system. She’s been published in online magazines such as, (regular writer for) ‘Life as a Human’, and Shannon Grissom’s magazine.