- Celestia (TIA) price was down 10% in the past 24 hours on Thursday afternoon.
- While it traded near $5.68, the decline from the all-time high of $6.40 reached on November 15 threatens a dip to $5.00 or lower.
The price of Celestia (TIA) was down 10% on Thursday afternoon, trading near $5.68 as it retreated from the all-time high of $6.40 reached on November 15. Despite the declines seen over the past 24 hours, $TIA was still more than 130% up on the weekly chart.
But after its stellar performance that drew firepower from its listing on the global crypto exchange Binance, is Celestia due for a breather? Or are bulls not done yet?
What is Celestia?
Celestia is a modular blockchain network whose technology has catalysed most of the optimism currently engulfing its native token. The network decouples the consensus and application execution layers, thereby modularizing the blockchain technology stack to open up the developer possibilities available to decentralized application builders.
Having launched its mainnet just recently, Celestia is thus not as established in terms of users and other network metrics as the industry heavyweight Arbitrum, or would-be competitor NEAR.
According to Mintscan, Celestia has processed just under 520,000 transactions and has 166 validators, with 100 active.
Celestia price outlook – what next for $TIA?
Speculation pushed the price of $TIA higher after the Binance listing. TIA is also on OKX, while Bitget was among the first to list this token.
Celestia TIA price chart. Source: TradingView
However, with the buzz around the token seeing a significant dip, its likely bulls might rely on psychological support to $5.50 and $5.00 before attempting to reestablish control.
If this happens amid a broader market upside, it’s possible the $TIA price could target the $10 level by the end of the year.
A bull market scenario and greater network growth for the cryptocurrency could see price discovery catapult the token’s price higher. On the flipside, breakdown below $5.00 could welcome a bearish retest of the area around $4.00 and likely $3.25.