Celestia (TIA) Price Surge
Celestia (TIA) has experienced a notable 12% price jump over the past 24 hours, signaling a potential breakout above $4. Despite this positive momentum, the broader market cues continue to present challenges that could limit TIA’s upward trajectory.
However, the current price action suggests the altcoin could maintain its bullish trend.
Celestia Is Aiming Higher
The Relative Strength Index (RSI) for Celestia has reached a near three-month high, reflecting strong bullish momentum. This increase in RSI indicates that TIA’s price could continue rising if the current factors persist. Notably, TIA exhibits an inverse correlation of -0.69 with Bitcoin, meaning that its price is less influenced by BTC’s movements. This further supports the outlook that TIA could break higher and see further gains, especially if investor sentiment remains positive.
With the RSI signaling increased bullish strength, TIA’s momentum may continue upward. Should these trends hold, the altcoin is likely to break above the $4.00 resistance level.
Celestia’s price action is also affected by broader market cues. The Ichimoku Cloud indicates bearish trends in the overall market. Currently, TIA remains above the candlesticks, suggesting that it is somewhat shielded from widespread market pressures.
However, if TIA investors begin selling for profits, the altcoin’s dependence on broader market trends may increase, posing challenges to its price stability.
The Ichimoku Cloud assesses market momentum and trend shifts. While TIA is not directly impacted by bearish sentiment at the moment, a change in investor behavior could alter its trajectory.
TIA Price Is Preparing For A Breakout
Currently, TIA is trading at $4.09, up by 12% from the previous day and holding above the support level of $3.88. Moving within an ascending channel, TIA seems poised for a breakout. A successful breakout could propel the altcoin by 21.8%, pushing its price past $5.00 and marking a six-week high.
The next significant resistance for TIA lies at $4.50. If the altcoin can breach this resistance, it will likely continue its upward trajectory, opening the door for further rallies. The price target would be set at $5.00, with additional upside potential if bullish momentum continues.
However, should the breakout attempt fail, TIA could see a pullback. A failure to maintain support at $3.88 would likely result in a drop. TIA would thus test the lower trend line of the ascending pattern. If it falls out of this pattern, the altcoin may decline to $3.23, potentially invalidating the bullish outlook.
Comments (0)