NEW DELHI (CoinChapter.com) — Despite Celestia (TIA) lining up new partnerships and hype due to a revelation by its founder, TIA prices failed to continue their recent rally.
TIA prices have charted multiple new all-time highs in January 2024, the latest near $20.30. However, the long upper wicks on the token’s recent daily candles highlight the profit-booking-led bearish pressure against TIA.
If the TIA price fails to restart its rally, the token could end up testing the 20-day EMA (red wave) support near $16. Moreover, breaching the immediate support might force the TIA price to test the support near $11.7.
However, should Celestia partnerships or the hype around the project attract buyers to the market, TIA’s price could challenge the resistance near $21. Conquering the $21 price tag hurdle might help the Celestia token rally to the resistance near $25 before retreating.
The RSI for TIA remained neutral, scoring 66.78 on the daily charts.
Celestia Amps Up Partnerships
Celestia is a blockchain network that aims to resolve scalability issues in traditional blockchains through a modular approach. The platform divides the responsibilities of execution and consensus to allow for more scalability and flexibility.
Furthermore, Celestia has implemented data availability sampling (DAS) as a core feature, which helps nodes only process the data relevant to their needs. The resulting reduction in loads on the nodes helps enhance efficiency.
These features have helped Celestia forge multiple partnerships. In Jan. 2024, Celestia partnered with Movement Labs, which describes itself as the “world’s first network of modular Move-based blockchains.”
Movement Labs stated that collaborating with Celestia will help the scalability solution provider expand its capabilities. Moreover, in Dec. 2023, Celestia teamed up with The Dark Frontier game, with the partnership and the resulting hype helping boost TIA’s price.
Additionally, Layer-2 blockchain platform Manta Pacific leveraged Celestia’s modular data availability solution to reduce user transaction fees.
Moreover, the MilkyWay DEX launched a liquid staking protocol for the Celestia ecosystem. Dec. 2023 also saw Celestia partner with Polygon’s development platform to attract more developers.
News of more Celestia partnerships could increase the hype around TIA, helping the token rally to a new ATH. Analysts also remain optimistic about TIA price registering gains in 2024.
Celestia Founder Recalls Wild Days
In an interesting X post, Celestia founder Mustafa Al-Bassam spoke about his teenage days when he crashed the CIA website through a DDoS (Distributed Denial of Service) attack.
However, Al-Bassam stated that it was not his favorite hack. Instead, the Celestia founder stated that his favorite was an attack on the Westboro Baptist Church website, which Al-Bassam did on a live radio show.
Al-Bassam was reminiscing his old days after posts about his history as a hacker surfaced on social media. When he was 18, the Celestia founder pleaded guilty to multiple cyberattacks, including the CIA, the UK’s Serious Organised Crime Agency, Sony, News International, and the NHS.
The Celestia founder’s revelations could help generate hype around the project, benefitting TIA’s prices alongside the project’s partnerships.
