How are the coins Binance Coin (BNB), Celestia (TIA), and Ondo Finance (ONDO) performing within the crypto market? Let’s look at the price performances and the latest news concerning them in this article.
BNB: recovery and future prospects between resistances and pullback
After a significant surge of altcoins, including Binance Coin (BNB), the market seems to have concluded the correction phase.
Currently, BNB is firmly above $700, but it has started to experience a slight pullback after encountering significant resistance.
BNB opened the year with positive momentum, recording a remarkable recovery from the recent low. Just yesterday, the cryptocurrency reached $745, fueled by a promising start to the week.
However, this level has represented an obstacle for the buyers, leading the price to retrace to a possible support at $716. Holding this level could rekindle the interest of the buyers and keep the bull trend intact.
Volatility is currently decreasing, allowing buyers to reorganize. Nevertheless, the general outlook remains positive in the long term. It is plausible to expect a recovery of purchases as the correction stabilizes.
From a technical point of view, a monthly close above the previous high could trigger a new bull cycle.
After the rebound from $400 recorded in August 2024, BNB has shown consistent growth and seems to be preparing for an even more significant movement.
Exceeding the key level of $800 could mark a crucial turning point, with subsequent targets at $761 and $793.8.
In case of declines, the $700 represent a critical defense zone. A potential loss of this level could lead the price towards $683, $642, and finally $600, considered a strategic support.
Celestia: the impact of the Ginger update on the TIA market
The recent Ginger update of Celestia (TIA) has doubled the available data capacity, optimizing the management of L2 transactions of Ethereum (ETH). This development is proving its effectiveness, with a significant increase in performance.
Dan Smith, analyst at Blockworks, highlighted a fivefold increase in Celestia’s throughput compared to before the upgrade. According to Smith:
“Celestia reached a new all-time high yesterday, with 11.85 GB of data published, largely coming from EclipseFND. It handled a data volume 5 times higher than Ethereum blobs, with costs 99.6% lower per MB.”
Celestia, leader in data availability (DA) for ETH L2 transactions, offers a scalable and low-cost solution for off-chain data storage and verification. This positions the platform as a preferred choice for other L2 transactions.
Despite technological advances, the native token TIA has experienced bear pressure. Market sentiment and social interest have decreased, bringing attention levels back to those prior to the November rally.
As a result, TIA has lost almost 50% from its peak, dropping from $9.2 to $4.3, with temporary support in the previous range.
The bearish RSI and the capital outflows detected by the CMF suggest a weakness in demand. If the technical parameters do not improve, TIA could break further below the mid-range.
However, a bull breakout could push the price to $7.3, offering a potential gain of 60%.
The price of the crypto ONDO compared to Binance Coin and Celestia
A single entity has returned to accumulating Ondo (ONDO), investing 7.87 million dollars through five wallets just one week after the sale.
The largest purchase saw an investment of 2.46 million USDT to obtain 1.64 million ONDO, highlighting a renewed confidence in the token.
Currently, ONDO is trading at $1.43, down 2.15% in the last 24 hours, while traders monitor the upcoming developments.
The token is at a crucial stage, trying to maintain support between $1.40 and $1.50 after pulling back from a high of $2.00 earlier this month. The resistance at $1.79 represents a significant obstacle: a breakout could push the price towards $2.30.
On the contrary, a break of the support could lead ONDO to test the $1.20 level, paving the way for ulteriori ribassi.
The activity of addresses reflects contrasting sentiments: new registrations have increased by 0.72%, but active addresses have decreased by 6.73%.
However, high-value transactions have grown significantly, with an increase of 156.73% for those between $10,000 and $100,000 and 100% for those above a million, suggesting a growing interest from institutional investors.
With the RSI STOCH in oversold at 3.76 points and the MACD showing a reduction in bearish momentum, ONDO could see a rebound.
Supported by strategic accumulations and increasing institutional activity, the token seems ready for a potential rally above $2.00 in the coming weeks.
