TIA, the native token of the modular blockchain network Celestia, has surged 14% following the announcement of its second funding round.

At press time, Celestia was trading at $6.2, having peaked at an intraday high of $6.86—marking a rise of over 40% from its weekly low. The token’s daily trading volume doubled from the previous day, reaching $410 million.

TIA Market Performance

Meanwhile, its market capitalization reached $1.34 billion, securing its position as the 65th largest cryptocurrency. Following the latest price jump, TIA also gained a top trending status on major crypto data aggregators.

Despite the recent price rally, TIA still needs to climb 69.8% to break past its all-time high of $20.85, which was seen in February.

Key Developments Driving the Rally

TIA’s price rally follows a significant milestone, with the Celestia Foundation announcing an additional $100 million in funding, bringing its total to $155 million. This funding round coincided with Celestia’s core developer community unveiling the project’s technical roadmap, both of which traders perceived as positive developments.

Technical Analysis and Resistance Levels

TIA’s price has now fallen to $6.171, hovering just below the upper Bollinger Band, which is currently at $6.601. This suggests that the token recently encountered resistance near the upper band, leading to a sharp pullback, as indicated by the price being near the middle band.

The Relative Strength Index (RSI) is at 56.87, retreating from overbought levels, which points to weakening bullish momentum. However, the RSI is still above the neutral zone, signaling that there is room for potential upward movement if buyers step in.

Potential Price Movements

If TIA can regain momentum and break above the $6.60 resistance level, it could push higher, with $7 as the next target. In contrast, failure to maintain current support levels could result in a further decline, with the middle Bollinger Band around $4.994 serving as the first support zone. Traders should be cautious of further consolidation or volatility near these key levels.

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