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- The trading volume of the Celestia token has surged by 200% in the past 24 hours.
- TIA price has increased by over 50% in the past 4 days.
- The Celestia price needs to gain 77% to achieve double digits from the press time.
On February 10, the TIA price recorded an all-time high of $21.25, with a solid bullish momentum of 800% since November 2023. The price shaped a shooting star candlestick pattern at the top and witnessed selling pressure.
Since mid-February, the Celestia price has declined by forming lower lows and lower highs. The price generated a double-bottom pattern in March and April by taking support at the $8 level. It was extended to the 200-day EMA but failed to exceed.
The Celestia crypto price performed negatively after facing resistance from the 200-day exponential moving average. The digital asset price trapped buyers by tempting with double-bottom and dragged down the price by 46% in a month.
Celestia crypto traded at $6.14 at press time with an intraday gain of 1.51%. The market capitalization was $1.20 Billion, and the 24-hour trading volume was $204.29 Million.
Is It a Buying Signal Over $6 Mark?
$TIA / $USD – Update
— Crypto Tony (@CryptoTony__) July 8, 2024
Daily closure above $5.70 and i will enter a position pic.twitter.com/tOV5tbowRV
A source on X claims that the buying pressure can increase at the candle closing over $5.70 in TIA crypto. The bearish trend has interrupted at the historical support level of $5. Surpassing the 20-day EMA may invite buyers and lift the price to the 200-day EMA.
Celestia Price Defending $5 mark; Is the V-shape Recovery Loading?
After solid selling pressure, the TIA crypto price has taken support at the $5 mark and gained 53% in the past 4 days. It was yet to exceed the 20-day EMA at the time of writing.
If the price surpasses the 20-day EMA and volume increases, the price may easily extend to the 200-day EMA. Since April, the digital asset price has defended the $8 mark twice. However, it failed to protect it a third time, and sellers dominated.
Assuming the TIA price surpasses the $8 mark and sustains, sellers below this might get trapped. Due to liquidity grab, the price may perform positively.
On the other hand, if the price faces resistance from the 20-day EMA, it may react negatively. The price below the recent low would be a bearish sign, and a new all-time low may be recorded soon.
Turning to the technical indicators, the RSI was at 24 and rapidly recovered from the oversold zone at press time. It generated a bullish crossover with the RSI-based moving average.
Are Buyers About to Dominate?
TIA crypto suggests that buyers are showing interest in pushing the price higher after it found support at the $5 mark. With the trading volume surging by 200% in the past 24 hours and the price increasing by more than 50% in the past 4 days, there is potential for further upward movement. It’s worth noting that the price needs to gain 77% to achieve a double-digit level from the current level.
Technical Levels
The bullish trend in Celestia crypto may interrupted near the $8.00 and $12.00 levels. It may take support at the $5.00 and $2.25 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.
