As a seasoned analyst with over two decades of experience in the dynamic world of cryptocurrencies, I’ve seen my fair share of market fluctuations and trends. The recent surge in Celestia (TIA) price has piqued my interest, particularly given its close correlation with the Lemongrass Update.
In simpler terms, the value of Celestia (TIA) has gone up quite a bit lately and it’s holding steady now, above its previous support points. This rise in price is part of a broader positive trend in the altcoin market that started after the Lemongrass Update. It seems like this update has sparked this upward movement, indicating that many investors are feeling optimistic about Celestia’s future prospects.
Celestia Price Eyes $10 After Successful Upgrade
On September 18th, Celestia debuted its initial mainnet improvement known as the Lemongrass update via an X post. This modification brings about a one-click interaction feature through Inter-Blockchain Communication (IBC) and inter-chain accounts. The upgrade includes numerous essential enhancements.
Lemongrass is live
With the initial Mainnet update known as Lemongrass, users will now have the convenience of one-click interactions through Inter-Blockchain Communication (IBC), in addition to interchain accounts and other enhancements.
— Celestia (@CelestiaOrg) September 18, 2024
For example, CIP-6 sets a minimum gas price to curb spam on the network. CIP-9 enhances IBC cross-chain transfers with new middleware for packet handling. CIP-10 introduces a streamlined mechanism for signaling network upgrades.
Way of rephrasing in a more natural and easy-to-understand language:
In the last few trading sessions, there’s been a significant increase in the cryptocurrency market, with Bitcoin trading above $62,000 and Ethereum surpassing $2,400, showing a rise in market worth.
The increase in the value of cryptocurrencies can be linked to the Federal Reserve’s choice to reduce interest rates. Similarly, other significant digital currencies have shown a similar rising pattern, underscoring the overall optimistic sentiment in the market.
Will TIA Price Surge To 10 Soon?
In the last day, the price of Celestia has experienced substantial growth, suggesting an upward trajectory. Meanwhile, TIA maintained at around $6.22, experiencing a robust surge of 15% during U.S. trading periods. As per CoinMarketCap statistics, the 24-hour trading volume has skyrocketed by more than 71%, hitting approximately $289 million, which implies elevated attention and market activity.
The Moving Average Convergence Divergence (MACD) graph now displays a positive shift, signaling an intersection over the signal line, often seen as a bullish signal. Furthermore, the MACD chart’s bars are turning green, which suggests a strengthening uptrend or rising momentum.
Based on data from Coinglass, the trading volume of the Celestia token has spiked by 54.87% to a staggering $1.26 billion. Simultaneously, the open interest has grown by 22.94%, hitting $247.43 million. This substantial rise in trading activity and open interest is contributing to the ongoing bullish momentum in the Celestia market.
As an analyst, I find myself observing a robust upward trend in Celestia’s price action, currently facing formidable resistance at the $7 mark. Overcoming this hurdle might suggest a transition towards a broader bullish cryptocurrency landscape. Once TIA surpasses this level, it could then target the subsequent crucial resistance level at $8.
Read More
- USD ZAR PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- CKB PREDICTION. CKB cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- EUR ILS PREDICTION
- TAO PREDICTION. TAO cryptocurrency
- ANKR PREDICTION. ANKR cryptocurrency
- HUDI PREDICTION. HUDI cryptocurrency
- Best JRPGs That Focus On Monster Hunting
2024-09-19 11:32