Celestia (TIA), the first modular blockchain network, has recently achieved a new all-time high, drawing significant attention in the crypto sphere. Its groundbreaking approach, which separates execution from consensus through data availability sampling, has redefined blockchain creation and operation, allowing for easy deployment of individual blockchains. This innovation has catapulted Celestia to the forefront of blockchain evolution.
The key to Celestia’s success is its departure from conventional monolithic blockchain models, which often face scalability challenges. By decoupling consensus from transaction execution, Celestia enhances scalability and maintains robust security and decentralization, setting a new standard in blockchain technology.
Since its mainnet debut on October 31, TIA’s price stabilized around $2.50. However, starting November 10, the token witnessed a significant surge, climbing over 150% to $5.80. As the year draws close, the crypto community is keenly watching to see if TIA can sustain this upward momentum.
TIA’s market journey began with a sideways movement, trading within a defined range between $2.20 and $2.80. This period of consolidation it culminated in a symmetrical triangle, leading to a breakout on November 9. Following a retest of the broken resistance, TIA’s price embarked on a steep upward trajectory.
Given the limited historical data, pinpointing precise support and resistance levels is challenging. However, initial projections based on the wave structure suggest that TIA might be nearing the end of its first five-wave impulse, with the potential to reach around $6.80.
Projecting conservatively, TIA could potentially hit around $11 by year-end. This scenario assumes the current rise concludes shortly, followed by a corrective phase. In an optimal case, a retracement to the $3.40 area could set the stage for a more substantial rally, potentially reaching $10 in the third wave and surpassing $11 after a fourth-wave consolidation.
These projections are based on Elliott Wave principles and are subject to revision with new market data. As TIA approaches its $6 target, a further 92% increase to reach $11 seems plausible, especially if market sentiment remains favorable.
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.