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The Celestia price jumped more than 7% over the past 24 hours to trade at $2.53 as of 8:35 am EST as investors rush to get in on the project’s ground phase.
This strong positive daily movement boosted the altcoin’s gain over the past seven days to 20%.
Mainnet Launch
The modular Celestia blockchain has rolled out its mainnet beta network following the issuance of its native token, TIA, to 580,000 users. Celestia, which is the brainchild of former computer science Ph.D. student Mustafa Al-Bassam, aims to solve the scalability and stability issues that are commonly associated with legacy blockchain networks such as Solana and Ethereum.
It is believed that the primary use case for Celestia will be to relieve Ethereum’s overwhelming computational workload.
The theory is that Celestia can become the backbone for a highly scalable and interoperable network of rollups and, most importantly, achieve this modular vision without sacrificing decentralization or security,” said the vice president of research at Galaxy, Christine Kim.
Celestia Price
4-hour chart for TIA/USDT (Source: TradingView)
A descending triangle has formed on the altcoin’s 4-hour chart after the Celestia price printed lower highs over the past 48 hours. This chart pattern suggests that the altcoin’s price may drop in the next 24-48 hours. Should this bearish pattern be validated, the cryptocurrency’s price could fall below the key support level at $2.430, which could expose the cryptocurrency to the possibility of falling to as low as $2.10 in the coming couple of days.
It is not all doom and gloom for the Celestia price, however, as a 4-hour candle above the aforementioned ascending triangle could invalidate the bearish thesis. Traders may then respond positively to a break above this bearish chart pattern, which could lead to the altcoin’s price attempting a challenge at the $2.890 resistance level.
A Chance for the Celestia Price to Reach a New ATH
With enough buy pressure, TIA could flip the barrier at $2.890 into support. This will then give the cryptocurrency the opportunity to try and establish a far higher all-time high (ATH). Before this potential breakout can take palace, however, technical indicators will need to align with bulls.
Following TIA’s climb to the $2.890 barrier over the past 48 hours, the Relative Strength Index (RSI) indicator on the cryptocurrency’s 4-hour chart suggests that bulls had lost a significant amount of strength. The negative gradient of the RSI line may also be a sign that buyers will not enter TIA’s order books any time soon.
In parallel to the bearishness expressed by the RSI line, the Moving Average Convergence Divergence (MACD) indicator on the 4 – hour suggested that TIA’s negative trend may continue in the next 24-48 hours. Despite this, traders and investors may want to keep an eye on the MACD Histogram as its gradient was shifting from negative to positive – a potential sign that TIA’s trend may enter into a positive reversal soon.
As TIA attempts to establish itself in the market, TG.Casino is busy raking in a substantial amount of capital from savvy investors.
Rapidly Surpassing Milestones
TG.Casino has raised more than $1.6 million in its presale, which is more than halfway to its $2.5 million fundraising target, as early-stage investors pounce on the high Annual Percentage Yield (APY) currently being offered by the project.
The cryptocurrency gambling project is offering investors a mind-boggling APY of 313.52%.
Complete Anonymity
TG.Casino does not require players to go through a KYC verification process to start playing. To get started, all a player has to do is connect their wallet. Once connected, players can deposit and withdraw from their account at any time. Players can also play on the go, as TG.Casino also offers a mobile app.
The project aims to position itself as one of the leaders in the cryptocurrency casino arena, which is a fast-growing industry valued at $250 million. To separate itself from other online casinos that are designed for mobile devices, TG.Casino is also working on becoming available on Telegram as well, which will give it access to 1.5 billion users in the next 3-5 years.
With the cryptocurrency gambling market set to explode tenfold in the next couple of years, TGC could easily generate 10x returns for investors in the medium to long term.
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