Celestia (TIA) price has experienced a notable increase in value recently. Currently, the price is stable, maintaining its position above established support levels. This positive trend in the altcoin market follows the recent Lemongrass Update. The update appears to have catalyzed this upward trajectory, signaling robust market optimism around Celestia’s potential.
Celestia Price Eyes $10 After Successful Upgrade
On September 18, Celestia unveiled its first mainnet enhancement, the Lemongrass upgrade, through an X post. This update introduces a one-click interaction capability through IBC and inter-chain accounts. The upgrade consists of multiple vital improvements.
Lemongrass is live
As Celestia’s first Mainnet upgrade, Lemongrass introduces 1-click interactions over IBC, interchain accounts, and more. pic.twitter.com/ev9fEVxSRf
— Celestia (@CelestiaOrg) September 18, 2024
For example, CIP-6 sets a minimum gas price to curb spam on the network. CIP-9 enhances IBC cross-chain transfers with new middleware for packet handling. CIP-10 introduces a streamlined mechanism for signaling network upgrades.
CIP-14 enables cross-chain account features, strengthening ties with the Cosmos ecosystem. Furthermore, CIP-20 eliminates the outdated Blobstream module, optimizing the network’s structure and performance.
The cryptocurrency market has experienced a notable uptick in recent trading hours. The surge in market value is evident as Bitcoin trades over the $62,000 mark. Similarly, Ethereum has climbed past $2,400.
This positive shift in cryptocurrency values follows the Federal Reserve’s decision to cut interest rates. Other leading altcoins have also mirrored this upward trend, further emphasizing the market’s bullish stance.
Will TIA Price Surge To 10 Soon?
Over the past 24 hours, the Celestia price has seen significant growth, indicating an ascending trend. The TIA price hovered at $6.22, making a strong surge of 15% during U.S. trading hours. According to CoinMarketCap data, the 24-hour trading volume has seen a remarkable increase of over 71%, reaching $289 million, indicating a heightened interest and activity in the market.
The Moving Average Convergence Divergence (MACD) indicator has turned positive, showing a crossover above the signal line, typically interpreted as bullish. The MACD histogram also supports this view, with green bars indicating increasing upward momentum.
Celestia Price Chart| Source: TradingView
According to Coinglass data, trading volumes in the Celestia token have surged by 54.87% to $1.26 billion. Meanwhile, open interest has increased by 22.94%, reaching $247.43 million. This significant uptick in both trading activity and open interest is fueling the current bullish trend in the Celestia market.
Source- Coinglass
With the bullish trend, Celestia is encountering strong resistance at the $7 threshold. Surpassing this barrier could signify a shift towards a bullish cryptocurrency market. Once TIA breaks through, it may aim for the next critical resistance level at $8. If the momentum continues, the Celestia price could reach $10, which could surge to 58%. The surge could follow the Lemongrass Update and bullish market sentiment.
The post Celestia Price Soars 15% After Lemongrass Update: Will TIA Hit $10 Soon? appeared first on CoinGape.
