Celestia [TIA] has experienced a downturn over the last month, witnessing a 6.54% decrease in its price to reach $5.93. Despite this decline, there are indications of a potential shift towards a bullish trend in the near future.
However, TIA faced an additional 3.15% drop within the last 24 hours and might undergo further decreases before a strong rally materializes.
Positive Signs of an Upside Potential with the Bullish Inverse Head-and-Shoulders Formation
An emerging inverse head-and-shoulders pattern, a favorable signal that often foreshadows a notable upsurge, has been identified for TIA. This pattern typically indicates an upward movement, with the target price being determined by the distance between the neckline and the peak of the formation.
This could potentially lead to a projected gain of 51.36% for TIA, pushing its value up to $9.861. If momentum persists, TIA might exceed this target to reach $11.880.
Currently, TIA is experiencing a decline, aiming to find stability at $5.589, a crucial level that could trigger a rebound and continuation of the uptrend. However, dropping below $4.506 would invalidate the bullish inverse head-and-shoulders pattern.
Celestia Encounters a Temporary Downturn Amid Corrective Movements
The anticipated rally for TIA has been postponed as it has yet to surpass the important neckline level, indicative of a potential uptick.
An analysis conducted by CryptoCrypto using essential technical indicators suggests that while a minor decline might persevere, TIA’s overall structure remains optimistic, with both indicators maintaining positive positions.
One of the key indicators analyzed is the Chaikin Money Flow (CMF), which assesses the balance between buying and selling pressure by considering the price and volume to determine whether assets are being accumulated (buying) or distributed (selling).
Given the current positive CMF value, there is underlying buying power, indicating that any present dip is likely just a minor correction.
Furthermore, the Relative Strength Index (RSI), which gauges the velocity and magnitude of price changes, echoes the positive sentiment of the CMF. Despite recent declines, the RSI remains in favorable territory, supporting a bullish stance.
A reversal of these indicators to the upside may prompt a price increase for TIA, potentially leading to further growth.
Market Analysis Overview
An in-depth analysis by CryptoCrypto on a broader timescale indicates that market sentiment towards TIA remains bullish, with an increasing number of participants opting to hold their positions rather than sell.
Data from Coinglass’s Exchange Netflow illustrates a significant negative flow, suggesting more TIA tokens are being withdrawn from exchanges than deposited. This trend implies a growing preference among investors to retain TIA holdings rather than selling them.
Should this trend persist, it could propel TIA’s price higher, driven by the sustained interest in holding among market participants.