- TIA has a short-term bullish outlook but could see a minor retracement.
A revisit to the $5.6 and $5.8 support levels would offer a buying opportunity.
As a seasoned analyst with over two decades of experience in the cryptosphere, I find myself intrigued by Celestia’s [TIA] current trajectory. While my crystal ball isn’t always clear, the stars seem to be aligning for a bullish run, albeit with a minor hiccup along the way.
Over the last seven days, Celestia [TIA] has been experiencing an upward trend, with many traders anticipating this positive momentum to persist into the coming week. However, according to AMBCrypto’s examination of the liquidation charts, there might be a minor price drop during the weekend.
Based on the larger time frame analysis, there’s a bearish momentum. However, the surge in trading activity suggests growing bullish confidence. Given this information, it appears probable that the price could reach around $8.
The 100% Fibonacci retracement level defense prompts a large rally
In simpler terms, on September 19th, TIA hit an intraday high of $6.498, but it didn’t manage to end the day with a closing price above the previous low of $6.194. This indicates that the market didn’t change from bearish to bullish.
Given the escalating trade volume over the past several days, it seemed inevitable that this trend would continue. Consequently, the On-Balance Volume (OBV) surpassed its August highs as well. This indicated a strong possibility that the price would soon breach the $6.2 resistance level and rise further.
In simpler terms, the long-term trend for Celestia crypto was bearish as indicated by its 20 and 50-day moving averages not crossing yet. However, recently, the price of Celstia crypto has surpassed these moving averages, suggesting a short-term bullish momentum.
Targets for the current impulse rally
Over the last ten days, there’s been a steady increase in the price surge of Celestia crypto. Most of these gains were made within just three days. The liquidation heatmap indicates that the next significant price pull could occur at around $7 and $8, which appear to be strong attractors for potential buyers.
Prices tend to gather around areas of high liquidity, which might lead to a downward turnaround. It seems probable that TIA will increase and approach the $8 level, rather than encountering resistance at $7, given the recent trading activity.
According to AMBCrypto’s analysis, it seems traders might experience short-term market fluctuations. The observation is based on the examination of the liquidation levels chart, where a positive cumulative liq levels delta suggests they should watch out for a potential price drop.
Read Celestia’s [TIA] Price Prediction 2024-25
In simpler terms, there were too many investors holding long positions, which might lead to a decrease in prices to force out the recent bulls. However, the liquidation levels chart indicates that $5.8 and $5.6 are temporary support zones where the decline could stop, allowing Celestia crypto to resume its upward trend.
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2024-09-21 10:15