The price of Celestia (TIA) is currently trading within a range, with levels spanning from $13.88 to $20.33. If TIA manages to break out above the upper boundary at $20.33, it could potentially trigger a 20% rally, pushing the price to a new all-time high of $24.31. Investors might find an opportunity to accumulate more TIA tokens around the support level of $18.22. However, if the price breaks down below the midpoint of the range at $17.11, it could invalidate the bullish outlook for TIA.
Celestia’s price has experienced significant growth since its launch on October 31, 2023, with an increase of 908% in roughly 100 days, reaching an all-time high of $20.91 on Friday. Currently, the price is consolidating within the aforementioned range, with recent fluctuations causing some uncertainty among holders.
Looking ahead, there are two possible scenarios for TIA. Firstly, it could break above the range high, establishing it as a new support level and paving the way for further gains to new all-time highs. Alternatively, if TIA faces rejection at the current levels, it might revisit the range’s midpoint before any further moves.
Despite the uncertainty, indicators like the Relative Strength Index (RSI) and Awesome Oscillator (AO) suggest a bullish trend for Celestia’s price. This indicates that any potential correction is unlikely to be severe and could present a buying opportunity around $18.23 before attempting to break above $20.33.
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Regardless of the bullish market conditions, Bitcoin price is in a precarious position. A swift 5% correction could cause altcoins to drop double-digits easily. In such a case, if Celestia price produces a twelve-hour candlestick close below the range’s midpoint at $17.11, it will invalidate the bullish outlook for TIA.
In such a case, traders can expect Celestia price to sweep the range low at $13.88.