The price of Celestia (TIA) has been steadily increasing since November 10 and recently reached a new all-time high of $16.88.
It seems that TIA is accelerating its upward movement, but how long will this increase continue?
TIA Accelerates Upward Movement
Since November, the TIA price has been following an ascending parallel channel, with the resistance and support trend lines confirming its validity multiple times.
However, on December 16, TIA was rejected by the channel’s resistance trend line, leading to a downward movement that caused a breakdown from the channel on December 25.
Nevertheless, TIA quickly recovered from this setback and reached a low of $9.36 on January 3. Since then, it has been on a swift rise and has reclaimed the channel’s support trend line, reaching a new all-time high today.
TIA Price Prediction: How Long Will Increase Continue?
According to Elliott Wave theory, TIA may have entered wave three of a five-wave upward movement. The RSI indicator also suggests a bullish trend, as it is above 50 and has generated a hidden bullish divergence.
If the upward movement continues, the first target for TIA is $22.80, with a potential increase of 43%. If it extends further, TIA could reach $31, representing a 95% increase from the current price.
However, if TIA closes below the $14.60 support level, it could indicate a bearish trend and potentially lead to a 40% drop to the nearest support at $9.40.
Hot Take: Bullish Momentum for TIA Continues
The price of Celestia (TIA) has been on a steady rise since November, reaching a new all-time high. With the support of the ascending parallel channel and positive indicators such as the RSI, TIA’s upward movement is showing no signs of slowing down. While there may be potential corrections along the way, many traders and analysts remain optimistic about TIA’s future prospects. As always, it’s important to monitor the market closely and set appropriate risk management strategies to navigate the volatility of cryptocurrencies.
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