- Celestia’s TIA token has bounced back in the past few days.
- The network has continued gaining market share in the modular industry.
- Recent partnerships include Axelar, Manta Network, and Near.
Celestia (TIA) crypto price has bounced back in the past few days as investors bought the recent dip and as developers embraced its modular network. The TIA token rose to 16.803 on Wednesday, almost 20% above its lowest point this week. This rebound happened even as other cryptocurrencies remained in a deep bear market.
Celestia ecosystem growth
Celestia, a recently launched modular data availability network, has done well in the past few months. It has attracted several developers who are working to leverage its technology to build and scale their dApps.
For example, Celestia integrated with Arbitrum Orbit in October, giving its developers an easier way of publishing data in the network’s chains like Arbitrum Nova, Goerli, and Sepolia. It also integrated with platforms like Axelar, Wormhole, Manta Network, Near Protocol, and Cartesi.
Analysts believe that Celestia is in a good place as it continue to leverage its position as the market leader in the modular data industry. They believe that it will continue doing well as it gains market share because of its superior technology.
It is also growing in other areas. For example, in a statement on Tuesday, Plume Network said that it will be launching on Celestia soon. Plume is the first modular network that is focused on Real World Assets (RWA) tokenization.
Tokenization is a process where people convert their real assets into tokens that can be sold and moved with ease. Some people have already started to tokenize their real estate while banks like JPMorgan and ANZ have used it to simplify their asset movements. Celestia also integrated with Subquery Network recently.
Celestia TIA price forecast
Turning to the 4H chart, we see that the TIA token price has bounced back in the past few days. In this rebound, the token has moved slightly above the ascending trendline that connects the lowest points since December. It is inside the ascending purple channel.
However, Celestia remains below the 50-period moving average and the Ichimoku cloud. It has also formed a small inverted hammer pattern. Therefore, the token will likely remain under pressure as long as it is below the 50-period moving average. In the long-term, however, I expect that Celestia will maintain its bullish trend and retest its all-time high of near $21.
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