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- The TIA price has defended the major support level of $4.50 and risen by 25% in the past 3 days.
- The Celestia token price has witnessed a breakout from a major descending trendline.
After the bearish momentum, the Celestia (TIA) price has stuck in a parallel channel at the bottom. The TIA price has been struggling in a parallel channel since July. It recently took support on the major support level of $4.50 and showed bullish momentum.
Amid this bullish move, the TIA crypto price surpassed the 20-day exponential moving average (EMA) and headed toward the 200-day EMA. Moreover, the price has departed from the demand zone and approaching the resistance zone.
Let’s analyze how the TIA token price might perform near the resistance level of $8.
Can TIA Price Show a Massive Bullish Move After the Breakout?
World Of Charts (@WorldOfChaarts1) is a cryptocurrency analyst claiming that the TIA price has huge bullish potential. The token’s price is already in green and preparing for another massive bullish momentum. Its next momentum might depend upon a successful breakout.
The TIA price surged 25% in a few days and reached the crucial level of breakout. If it triggers a breakout from this channel, it may witness a strong recovery in the last quarter of 2024.
Can TIA Price Recover Previous Losses Soon?
Celestia crypto was trading at $6.19 at press time and has remained neutral over the past 24 hours. Its market capitalization was $1.34 Billion, and the 24-hour trading volume was $229.94 Million.
The trading volume at decentralized exchanges was $3.55 Million, and $228.80 Million on centralized exchanges at press time.
According to the chart structure, the price might face difficulty near the $8 mark. It requires a surge in volume for a successful breakout from this territory.
If the TIA price manages to surpass the $8 mark, buyers might take control. Suppose the price sustains over that level, strong buying momentum can be anticipated. If investors get involved, a trend reversal momentum can be anticipated.
Alternatively, if the price faces resistance from the $8 mark, buyers might be afraid, and the price may struggle in the channel for a longer period. The overall trend was bearish so a mild bearish signal may impact more.
As per the technical indicators, the MACD has entered positive territory, and the histograms have flipped to green. The RSI has developed a bullish crossover with the RSI-based moving average, heading toward the overbought zone.
Celestia Price Analysis and Forecast
TIA price is showing signs of potential recovery. It has defended a major support level and witnessed a breakout from a descending trendline. Additionally, the TIA token price has surpassed the 20-day EMA and is approaching the 200-day EMA. The MACD and RSI indicators also indicate a bullish momentum.
If the TIA crypto price manages to sustain above $8, it could signal a trend reversal and strong buying momentum. Conversely, if the price faces resistance at $8, it may struggle in the channel for a longer period. Considering the overall bearish trend, a mild bearish signal could have an impact.
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.
