Celestia (TIA) surges 15% to break above key level: Is ATH next?

Celestia (TIA) price traded north today as sentiment around the modular blockchain picks fresh momentum.

On Tuesday, TIA reached an intraday high of $11.00, rising more than 15% up in the past 24 hours. Gains have pushed TIA from lows of $8.00 reached on May 15 and is now 10% up on the weekly time frame. 

Celestia gains momentum

Much of today’s gains are down to the current uptick in sentiment across crypto as analysts predict a potential altseason run.

There’s also a positive outlook ahead of Consensus 2024 that starts on May 29.

Celestia co-founder John Adler will take part in a fireside chat on modular expansion. Adler will also debate Austin Federa from Solana on the topic of Monolithic vs. Modular.

Interest in Celestia will likely increase ahead of the highly anticipated Modular Summit 3.0 set for July 11-13 in Brussels.

Currently, developments across more than 80 modular projects point to a growing industry that has Celestia as a key player.

Starknet’s launch of the testnet for the appchain Kakarot zkEVM, Witness Chain’s building of a DePIN Coordination Layer using Polygon CDK, and Particle Network’s launch of Chain Abstraction on Berachain are some of the latest events and moves in the sector.

Read more: Polychain and Binance Labs invest in Celestia liquid staking protocol MilkyWay

Celestia (TIA) price outlook

While TIA price remains in a downtrend since the downward flip from the all-time high of $20.85 reached in February, there’s growing optimism around it.

The cryptocurrency was up 15% at the time of writing on Tuesday, ranking as one of the top gainers in the market. Data shows the 24-hour trading volume surged more than 245% to $232 million, with a market cap at $1.9 billion.

Meanwhile, open interest in TIA is up 24% in 24 hours to over $138 million, suggesting a potential price volatility for Celestia.

If bulls hold $10, a decisive surge above the $11.5-$12.5 level could allow bulls to target $15 and then $20. On the flipside, immediate support may be around $8.76.