- TIA price surged by 26% on August 08th at the bottom.
- The Celestia crypto price has defended the $4 hurdle twice, showing bulls’ involvement.
Since February, TIA has been declining through a descending channel. The price attempted multiple times to exceed the trendline. However, sellers were strong enough and have dragged the price.
During this bearish trend, the digital asset price has slipped below the crucial level of $6. According to the chart behavior, the Celestia price has struggled to sustain over the 20-day EMA but has failed to hold for longer.
The digital asset price has undergone a correction phase over a wider time frame. As per the chart structure, the price is expected to gain massively after the breakout from the descending channel.
Turning to the technical indicators, the RSI has generated a bullish crossover with the RSI-based moving average. It formed a bullish divergence, which is a sign of a bullish forecast.
Is a Massive Upsurge in TIA Crypto Anticipated?
Based on a source on X, TIA is ready to shoot up soon after the breakout from the trendline. This source demonstrated that the RSI generated a bullish divergence, which indicated a genuine breakout.
.$TIA
— ⭐RᗩᖴᗩEᒪᗩ 𝗥𝗜𝗚𝗢 ⭐ (@RAFAELA_RIGO_) August 8, 2024
easy money
. pic.twitter.com/ca8WjoV4aP
Is Celestia Crypto Available at a Discount?
A source on X claimed that it is the golden opportunity to buy Celestia crypto. The price has dropped to the major support level, and the RSI has shaped a bullish divergence. It is a sign of a bullish momentum.
not buying $TIA here is a crime pic.twitter.com/VqhniNPpOr
— white is … (@cryptowhitewalk) August 8, 2024
Technical Analysis of TIA Price Over Daily Timeframe
Celestia Crypto was being traded at $5.55 at press time, which has jumped by 19.80 in the past 24 hours. The market capitalization was $1.12 Billion, and the 24-hour trading volume was $137.91 Million at the time of writing.
Based on the technical chart, the Celestia price has performed negatively for the past few months. The price has been struggling to advance the trendline but couldn’t.
If the price manages to break out from the descending channel; buyers may show interest. If the trading volume increases at the time of breakout, it might boost the bullish momentum.
On the other hand, buyers might panic if TIA faces resistance from the trendline. Assuming the price forms a bearish candlestick in this territory, sellers may dominate further and drag down the price to the $2 mark.
Would TIA Price Rise or Sink Further?
The TIA price has been weak over the past few months and has struggled to break through key resistance levels.
However, there have been indications of a potential bullish breakout. Moreover, the RSI has shown a bullish divergence and a potential golden crossover.
If the price breaks out from the descending channel, there could be a significant surge, potentially reaching the $20 mark.
The potential for a breakout presents an opportunity for buyers. However, it’s important to remain cautious as a failure to surpass the resistance levels could lead to further declines.
The TIA price may take support near the $4.50 and $2.50 levels. The bullish trend in the Celestia crypto price is expected to interrupt near the $8.00 and $12.00 levels.
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.
