Celestia price analysis reveals a potential bullish path back to an all-time high price after registering 12% gains in the last day to trade at $7.29. This increase follows an 80% retrace from its yearly high established in late February. Celestia price has formed an interesting market structure that promises a rally to $12. Can TIA pull it off?

Celestia Price Analysis: TIA Bulls Eye 58% Extended Gains to $12 

Celestia Price Analysis Chart

TIA’s price has been dropping steadily since February, making lower highs and lower lows. The 50-day and 200-day simple moving averages (SMA) acted as resistance levels down to  $4.41 in early July before the trend began to reverse. TIA has formed an inverted head-and-shoulders pattern spanning one month, from which it may surge to $12. The Celestia price analysis also shows an ascending triangle that confirms the previous bullish bias.

On its way up, the TIA price may encounter resistance at $10 (200-day SMA), $14, and $16. Conversely, a lower break may invalidate these chart patterns, finding lower support around $5.9, $4.7, and $4. 

Technical indicators show mixed signals in Celestia’s price action. Volume analysis shows that the trading volume is decreasing as the price increases. This volume-price divergence is a bearish signal, showing that the price of TIA may be due for a correction.

Conversely, the relative strength index (RSI) is strong at 57 and trending above its 14-day moving average. The Chaikin money flow is at 0.09 and also trending up. Both of these indicators signal increasing bullish momentum. 

TIA Future Outlook Amid Market Greed

According to this Celestia price analysis, the asset may be mimicking sentiment/price oscillations witnessed in Near Protocol (NEAR). After surging post-listing, NEAR price dropped 80% to $2.01, formed a base, and began to recover slowly, taking about 280 days. 

TIA/USDT

TIA needs to make a higher high above $12 to confirm the trend reversal, as Celestia analysis shows. If the asset mimics NEAR, as it has so far, the TIA price may establish a new all-time high as soon as mid-September 2024.

Meanwhile, market sentiments shifted back to “greed,” as the Crypto Greed & Fear index indicated. This is a jump from last month’s “fear” following several FUD-inducing events in the crypto space. This optimistic market sentiment is poised to fuel Celestia’s price rally back to and beyond its previous all-time high price.

Bottom Line

Celestia’s TIA token surges 12% as the broader cryptocurrency market sentiment shifts back into the “greed” phase. This uptick in TIA’s price aligns with renewed optimism across the crypto space, potentially signaling increased chances of further gains for the asset. Celestia price prediction shows the TIA may extend gains by as much as 58% to $12 before encountering the next major resistance. 

The post Celestia Price Analysis: TIA Spikes 12% as Crypto Market Re-Enters Greed Phase appeared first on CoinGape.

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Filed under: News - @ July 22, 2024 8:13 am