Following the Celestia upgrade, the TIA index rebounded nearly 40% from its low.

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Coinpedia

06-23 02:26

Ai Focus

News of Celestia's upgrade boosted market sentiment, with the TIA rebounding nearly 40% from its historical lows, and $0.55 becoming a key short-term level to watch.

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Celestia's ecosystem token, TIA, has recently seen a significant rebound. Since hitting support around $0.2952 on June 12th, the price has risen to approximately $0.4096, a gain of nearly 40%. According to the data in this article, TIA also rose by about 10% intraday, indicating a recovery in buying interest at lower levels.

The upgrade announcement boosted market sentiment.

Celestia previously announced that developers can now deploy the Commonware Chain on its network. According to the official statement, this type of chain can achieve approximately 10 times faster block generation speeds while reducing the infrastructure burden and deployment wait times associated with building your own validator set.

This update came after TIA had been hovering in long-term lows for months. The upgrade news, coupled with signs of a price stabilization, boosted market sentiment and drew renewed attention to the token's short-term performance.

The $0.2952 area continues to face selling pressure.

Looking at the price action, the $0.2952 level has repeatedly acted as selling pressure since February, becoming a key support level for TIA in recent times. Although selling pressure has persisted over the past few months, the price has not fallen significantly further, but rather has consolidated at lower levels.

Such a rebound after a prolonged period of sideways trading usually indicates that some selling pressure is easing, and the market is beginning to test higher price ranges. Whether this recovery can continue depends on whether subsequent buying can increase further.

Support level around June 12: $0.2952

The price after the rebound is approximately: $0.4096

Cumulative increase over the period: nearly 40%

$0.55 becomes the next resistance level.

The report mentions that the 200-day exponential moving average around $0.55 is currently a key resistance level to watch. If prices continue to rise and break above this level, the market may further observe the performance in the $1 and higher range.

However, TIA is currently still in a low-level recovery phase. Compared to its previous prolonged period of trading near historical lows, the recent price rebound and network upgrade news have at least provided new trading clues for the market, and also show that the dynamics of the Celestia ecosystem still directly affect the token's performance.

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