Death Crossover Generated; Will TIA Price Keep Declining Further?

• Celestia crypto price lost 22% last week showing bearish momentum.
• The 24-hour trading volume has decreased by 20%.

Since November, the TIA price has shown an unusual growth of approximately 750% in 4 months. The price reached an all-time high of $21.14 on February 10, 2024, displaying weakness. Chart shows a higher high and higher low pattern. However, in March, it failed to record a new higher high and sellers dominated further.

From the second week of February, the TIA price has performed negatively and is down by 50% till now. Recently, the asset price triggered a breakout from the 20-day EMA but failed to sustain and dropped by 20% in a week. 

At the time of writing, the TIA price traded at $10.32 which is up by 6.18% in the last 24 hours. The market capitalization is $1.78 Billion and the 24-hour trading volume is $110.16 Million. The circulating supply is 181,153,117 TIA and the fully diluted market cap is $10.65 Billion.

TIA Price Has Formed a Double-Bottom Pattern; Will It Shoot Up?

On the daily time frame, the Celestia crypto price has formed a double-bottom pattern and a strong positive candlestick pattern on the support level of $9. After a bearish momentum, the sellers seem to have been exhausted and new buying orders have been received.

Celestia’s price gains buying momentum as it has formed a positive candlestick on the support level. If the trading volume increases then the price may gain buying momentum for the short term. Suppose the buyers lift the price to the key moving average then it may approach an all-time high.

On the other hand, selling pressure can be seen if the digital asset price slips below the support level of $9 and sustains. If the chart structure manages to attract the sellers then it may melt to the $5 mark. 

Turning to the technical indicators, the TIA price is trading below the key moving average indicating the sellers’ grip. RSI is 43 and bouncing back to the RSI-based moving average which indicates the new selling pressure.

Price, Market cap, And Volume Analysis

According to the graph, the price and volume has been constant but the volume has performed a pump dump way. In the last 4 days, the trading volume has increased which has lifted the price.

Conclusion

TIA price has formed a double-bottom pattern and is showing some positive momentum. However, the trading volume needs to increase for the price to gain buying momentum in the short term. If the sellers dominate further, the price may slip below the support level of $9 and potentially melt to the $5 mark. It’s important to keep an eye on the trading volume and technical indicators to make informed investment decisions. 

Technical Levels

Resistance Levels: 12.00 & $15.30

Support Levels: $9.00 & $5.30

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.