Celestia forms strong bullish configuration, analyst points out
Technical analyst Gregor Horvat believes that the Celestia (TIA) cryptocurrency, based on an innovative modular architecture, shows signs of bullishness in the medium term, supported by a wave configuration that indicates possible appreciation.
Built with the Cosmos SDK, Celestia offers a scalable and customizable platform for decentralized applications and rollups, separating the consensus and execution layers to provide more flexibility for developers.
According to Horvat, this unique architecture and focus on scalability and modularity make Celestia an asset of great interest to investors and developers.
Horvat observes a clean bullish formation for TIA, which has already undergone an initial impulse in five waves, followed by a correction in the ABC format, as per Elliott wave theory. This correction, in the analyst's view, sets the stage for a new wave of appreciation.
“TIA currently appears to be forming a bullish setup to a lesser extent, with a strong rebound of support, signaling the start of wave 1. Should the asset overcome the channel resistance line and reach the $7.5 level , we will have initial evidence of a new high”, explains Horvat.
Celestia
If the cryptocurrency advances beyond this level, the next step would be to observe whether TIA surpasses the bullish confirmation level at $12. “If the price manages to break $12, we will be able to follow the development of wave 3 of an upward momentum. five waves, which would indicate a more robust and consolidated bullish structure”, adds the analyst.
With the TIA token being used for gas fees, governance and staking on the Celestia network, Horvat points out that this modular architecture allows developers to create their own execution and settlement environments, making the Celestia ecosystem highly adaptable to market needs. This difference, according to him, could attract more projects to the network and increase demand for the TIA token.
While Celestia is consolidating itself as a platform that offers new possibilities in the blockchain space, investor interest in cryptocurrency continues to rise, mainly due to its ability to separate layers of execution and consensus, something that improves scalability and reduces barriers to the development of decentralized applications.
For Horvat, this characteristic puts TIA in a favorable position for new upward movements in the market.
The analyst also highlights that the continuity of the bullish structure will depend on the confirmation of technical resistance levels, especially the US$7.5 channel and the US$12 level. With these advances, Celestia will be able to establish itself as a relevant asset in the cryptocurrency sector, attracting attention from both investors and developers looking for scalable and innovative solutions.