Celestia rises over 20% as multi-week rally continues despite declining network demand
Celestia (TIA) surged 20.05% following a notable four-week price rally, even as underlying network demand continued to decline and daily data posted to the blockchain contracted. The strength of the move is supported by TIA holding above its major moving averages, with bullish momentum currently prevailing.
Highlights
- Celestia's TIA token gained significantly over the past four weeks despite a reduction in network activity and blob demand.
- Data submitted to the Celestia blockchain fell from 2.77 billion bytes on September 18 to 2.05 billion bytes by October 15.
- TIA/USD trades near recent highs with bullish momentum; the expected five-day range is $0.552 to $0.7159, with a strong likelihood of further upside.
Sustained rally faces headwinds as core activity and blob demand weaken
Celestia's TIA token posted a strong price performance over the past four weeks, with the rally occurring alongside a marked decrease in network usage. Daily data submitted to the blockchain declined from 2.77 billion bytes on September 18 to 2.05 billion bytes by October 15. Demand for Celestia's core 'blobs' structure also fell during this period, while the Fibre throughput benchmark remains in development and has not been integrated into mainnet activity.
Bullish momentum holds as TIA tests resistance amid overbought signals
TIA/USD is trading above its 20-day, 50-day, and 200-day moving averages ($0.5001, $0.4324, and $0.3799 respectively), signaling bullish momentum across multiple timeframes. The current price is approaching resistance at $0.6333, with immediate support at $0.5977. The MA-50 remains well above the MA-200, confirming a long-term uptrend. Momentum indicators are positive: MACD and ADX suggest strong buy conditions. RSI sits at 62.37, which is bullish but not yet overbought, while the CCI is overbought at 121.77 and Stochastic RSI is firmly bullish. Bull/Bear Power reads strongly positive at 0.0902, indicating buyers are dominating intraday action. The session began with a substantial upside gap and price is near the day’s high, amid elevated volatility of 1.75%.
Earlier, analysts noted that Celestia's price was exhibiting clear upward momentum, supported by strong technical positioning and prevailing buyer dominance despite mixed short-term indicators. The current analysis strengthens this view, highlighting the importance of the $0.6333 resistance as a key level to watch for a potential extension of the rally in the days ahead.