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- TIA price has melted by 25% in the past 10 days, showcasing the bears’ grip.
- MACD has generated a death crossover, and the histograms have been flipped to red.
The chart structure displayed that the TIA price has declined due to a trendline’s resistance. TIA price has tried 4 times to overcome the trendline, but sellers were strong enough and dragged down the price.
The digital asset price has departed from the lower high territory and has lost 25% in 10 days. The bearish trend was supposed to disturb near the $6 mark as the buyers were showing interest. However, the buyers couldn’t defend it longer, and the price slipped below.
Since February, the Celestia crypto price has remained below the 20-day EMA. The price has attempted to advance the 20-day EMA multiple times but failed to hold longer.
Celestia crypto was being traded at $5.37, which has increased by 1.11% in the past 24 hours. It has a market capitalization of $1.08 Billion, and its 24-hour trading volume was $115.67 Million.
Could the TIA Price be Extended to the $7 Mark Soon?
Based on a source on X, the Celestia price has generated a bottom and is ready to shoot up soon. The price has shaped a reversal candlestick at the bottom and lifted the price slightly.
$TIA
— Hmz (@HmzCharts) August 2, 2024
Run it back turbo pic.twitter.com/1mdUN4EgUa
In this scenario, the price may show strong bullish momentum after recovering from the demand zone.
Would the TIA Price Recover Previous Losses or Keep Declining?
Based on the technical chart, the TIA price has performed positively in 2023. In January 2024, the price tried twice to exceed the $20 mark but couldn’t. Since February, the price has witnessed selling pressure and has declined by 75% till now.
As per the chart, the digital asset price has failed to defend the crucial level of $6. If the price remains below this level, it would be a bearish sign, and the price may continue declining.
On the other hand, buyers may pay attention if they manage to lift the price to a crucial level. A trend reversal can be anticipated if the price starts trading over the 200-day EMA. The price may soon be extended to the $20 mark.
Regarding technical indicators, the Celestia price traded below the key moving averages at press time.
RSI has triggered a bearish crossover with the RSI-based moving average. Overall, the technical indicators are in favor of a bearish forecast.
Is Bearish Trend Coming to an End?
The bearish trend has been dominant, with the TIA price consistently facing resistance and struggling to maintain upward momentum. The failure to defend the crucial level of $6 raises concerns about further declines in the near term.
There are suggestions for a potential reversal based on forming a reversal candlestick and a possible bounce from the demand zone.
The technical indicators, including MACD, RSI, and moving averages, paint a bearish picture for the Celestia price.
Technical Levels
The bullish trend in Celestia crypto may disturb near the $7.50 and $12.40 levels. The bearish momentum can be halted at the $4.75 and $2.50 mark.
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.
