Celestia (TIA) faces a challenge: Will the 1 USD mark be held to pave the way for a new upward trend?

Celestia (TIA) has leveraged a strong recovery in the altcoin market to surge over 19% in just the past 24 hours, as of the current time.

This altcoin has reclaimed the 1 USD mark and is aiming for an ambitious target: 2 USD. The growth is driven by vibrant on-chain activity, a surge in trading volume, along with notable changes in the short-term market structure.

Why did TIA increase by 19% in one day?

The overall trading volume of Celestia has exploded, surging 4.4 times in just one day, leading to a strong increase in price. According to data from DefiLlama, this figure jumped from 67.94 million USD to 301.7 million USD.

Looking at the chart, the highest volume level in November before today was only 132.99 million USD, meaning the current level is nearly three times the peak of this week. The remaining days of the month all maintained below 100 million USD.

Source: DefiLlamaNotably, on-chain transactions at DEX exchanges have also surged, nearing the quarter billion dollar mark. Data from Dune shows that the volume reached 244 million USD at the time of writing, just under 6 million USD away from hitting this important milestone.

What does a high transaction volume indicate?

The increase of TIA is further reinforced by heavy trading volume as the market rises. During the day, the total number of transactions reached 48,424, the highest number since August 9.

Detailed analysis shows that 40,899 transactions are blob transactions, while 7,525 transactions do not have blobs, reflecting the surge of aggregate transactions on the network and highlighting the strong level of development in activities.

Source: Blockworks ResearchNot only that, the total number of transactions on the Celestia network has surpassed one million, reaching approximately 1,079,884, according to data from Dune Analytics.

This record high trading volume indicates that the price of Celestia may continue its upward trend if the broader cryptocurrency market maintains its current momentum.

What is the next price for TIA?

On the 4-hour chart, TIA has broken the descending channel, marking an important step forward after the correction phase. The altcoin is currently hovering around the new peak, likely a retest after the recent breakout.

Increased volatility in the market is reinforcing the strength of buyers, clearly reflected in the MACD bars. The Relative Volatility Index (RVI) remains above 75 at the time of writing, indicating that the bullish momentum is still strong.

If TIA maintains above the 1 USD mark, this altcoin has the potential to move towards the price range of 1.50 – 1.60 USD. Breaking through this threshold will pave the way for TIA to reach 2 USD, creating a clear growth outlook.

Source: TradingViewConversely, if the price falls below the resistance level that has turned into support, the progress towards 1.50 USD may be delayed.

TIA reflects the general psychology of the altcoin market, but the uptrend is still uncertain. Investors who buy at low price levels may take profits, putting pressure on the upward trend.

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