🔷 Celestia Price Rises as Market Recovers
In the last 24 hours, the overall market recovery has led to a rise in Celestia‘s (TIA) price, recovering some of yesterday’s losses. Although TIA bulls initiated a significant rally, taking advantage of Bitcoin’s (BTC) price retesting the $55,000 level, this rally currently faces heavy bearish pressure. Fundamentally, Celestia is performing strongly, but technical indicators show that returning to previous peaks will be a challenging struggle for the altcoin.
🔸 Celestia Price Analysis and Technical Indicators
TIA‘s price rose by 9.3% in the last 24 hours, reaching 4.88. While bulls are trying to push the price higher, bears’ intense pressure keeps the altcoin’s price in a critical zone. The current trend of TIA’s price is downward, and moving averages confirm this decline. The last small green candlestick indicates increased volume, suggesting a potential short-term reversal.
TIA’s price has been in a consolidation zone for the last 42 days and is currently at the lower boundary of this range. The 50-day EMA is at $6,370, and the 200-day EMA is at $9,426. Both EMAs are above the current price, confirming the downtrend. There is significant support around 4.5, and the first major resistance is around 7.4. The 50-day EMA at $6,370 acts as resistance, while the main resistance zone is between $8 and $8.5.
The altcoin’s Relative Strength Index (RSI) is at 38.41, close to the oversold region but not yet there, indicating potential for a short-term bounce. The Chaikin Money Flow (CMF) indicator is at -0.10, showing capital outflow from Celestia and the presence of selling pressure, although this pressure is not very strong.
🔸 Bull Catalysts for the Altcoin
According to Coinalyze data, Celestia’s Open Interest (OI) increased by 10.14% in the last 24 hours. Considering this increase along with the recent price rise, it can be said that market participants are buying TIA, which is a positive indicator for the asset.
