Cryptocurrency Celestia is a modular blockchain network built with the Cosmos SDK, designed to offer a scalable and customizable platform for decentralized applications and rollups. It separates the consensus and execution layers, allowing developers to focus solely on the execution layer. Celestia introduces data availability sampling to enhance scalability and does not impose execution or settlement constraints. The native token, TIA, is used for gas fees, network governance, and staking. This architecture provides developers with the flexibility to create their own execution and settlement environments, opening up new possibilities in the blockchain space.
Celestia with ticker TIAUSD has pretty nice and clean bullish setup formation with impulsive five-wave rally, followed by an A-B-C corrective setback that can send the price higher by Elliott wave theory. Currently it can be actually forming a lower degree bullish setup formation with sharp rebound from the support into wave 1, followed by a three-wave A-B-C corrective setback in wave 2. So, if it manages to jump back above channel resistance line and 7,5 first bullish evidence level, then we might start tracking wave 3 of a five-wave bullish impulse, especially if later jumps back above 12 bullish confirmation level.
On the date of publication, Gregor Horvat did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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