Celestia (TIA) has had a great week, quickly recovering from its early October crash. The coin is currently leading the cryptocurrency market’s recovery on the daily chart, suggesting that its bullish momentum could extend through the end of the month.
Celestia Leads the Cryptocurrency Market
TIA, the native token of modular blockchain Celestia, has gained 7.3% over the past week. The cryptocurrency recovered from its Oct. 3 lows, rising from support at $4.5 to above $5 this Friday.
Celestia has been on a downward trend since hitting an all-time high (ATH) in March, experiencing a sharp 80% correction from $20 to $4 over the past six months. The September retracement dragged TIA below $4, marking its lowest price since early November 2023.
However, the token’s third quarter pullback did not cause concern for many investors, who viewed Celestia’s on-chain development as a potential bullish sign. Since then, the cryptocurrency has gained 40.1% on a monthly basis, fueling bullish sentiment in the community.
Today, TIA has had 8 consecutive bullish candles, pushing the price up 14% from the $4.9 area to the $5.6 resistance level before falling back to the $5.5 mark. Throughout the morning, the coin has been hovering between $5.50 and $5.55, up 16.3% in the past 24 hours.
This performance makes Celestia the biggest gainer among the top 100 cryptocurrencies by market cap, behind only Worldcoin (WLD), Dogwifhat (WIF), and Popcat (POPCAT).
Is TIA about to make a big move?
Several market observers have noted Celetia’s performance, arguing that the cryptocurrency’s chart suggests a breakout could be imminent. For cryptocurrency analyst Yuriy, TIA’s performance suggests “a big move is coming,” noting that its open interest (OI) has increased significantly over the past month.
Meanwhile, cryptocurrency analyst Poseidon points to TIA’s 80% retracement and asserts that we may be nearing the end of a “brutal downtrend.” In the analyst’s view, the price range between $4-7 in 4 months appears to be a potential bottom, which could mean that the ongoing bullish momentum will continue.
However, Poseidon insisted that TIA must reclaim the 50-day and 200-day exponential moving averages (EMA) for a trend shift to occur. Similarly, cryptocurrency trader Bluntz previously said that the cryptocurrency has bottomed out, showing an inverted head and shoulders pattern after a weekly rebound.
Youtuber Crypto Jack noted that Celestia rebounded from the $4.5 support area and is targeting the upper trendline of its 4-month consolidation range. For analysts, the bullish momentum could see TIA break through the $7 resistance this month.
Other analysts called it “one of the most attractive altcoins” and set a price target of more than $10 for Celestia. However, some pointed out that the upcoming token unlocking on October 30 may have a negative impact on TIA’s price.
Celestia (TIA) performance on the weekly chart.
Celestia (TIA) has had a great week, quickly recovering from its early October crash. The coin is currently leading the cryptocurrency market’s recovery on the daily chart, suggesting that its bullish momentum could extend through the end of the month.
Celestia Leads the Cryptocurrency Market
TIA, the native token of modular blockchain Celestia, has gained 7.3% over the past week. The cryptocurrency recovered from its Oct. 3 lows, rising from support at $4.5 to above $5 this Friday.
Celestia has been on a downward trend since hitting an all-time high (ATH) in March, experiencing a sharp 80% correction from $20 to $4 over the past six months. The September retracement dragged TIA below $4, marking its lowest price since early November 2023.
However, the token’s third quarter pullback did not cause concern for many investors, who viewed Celestia’s on-chain development as a potential bullish sign. Since then, the cryptocurrency has gained 40.1% on a monthly basis, fueling bullish sentiment in the community.
Today, TIA has had 8 consecutive bullish candles, pushing the price up 14% from the $4.9 area to the $5.6 resistance level before falling back to the $5.5 mark. Throughout the morning, the coin has been hovering between $5.50 and $5.55, up 16.3% in the past 24 hours.
This performance makes Celestia the biggest gainer among the top 100 cryptocurrencies by market cap, behind only Worldcoin (WLD), Dogwifhat (WIF), and Popcat (POPCAT).
Is TIA about to make a big move?
Several market observers have noted Celetia’s performance, arguing that the cryptocurrency’s chart suggests a breakout could be imminent. For cryptocurrency analyst Yuriy, TIA’s performance suggests “a big move is coming,” noting that its open interest (OI) has increased significantly over the past month.
Meanwhile, cryptocurrency analyst Poseidon points to TIA’s 80% retracement and asserts that we may be nearing the end of a “brutal downtrend.” In the analyst’s view, the price range between $4-7 in 4 months appears to be a potential bottom, which could mean that the ongoing bullish momentum will continue.
However, Poseidon insisted that TIA must reclaim the 50-day and 200-day exponential moving averages (EMA) for a trend shift to occur. Similarly, cryptocurrency trader Bluntz previously said that the cryptocurrency has bottomed out, showing an inverted head and shoulders pattern after a weekly rebound.
Youtuber Crypto Jack noted that Celestia rebounded from the $4.5 support area and is targeting the upper trendline of its 4-month consolidation range. For analysts, the bullish momentum could see TIA break through the $7 resistance this month.
Other analysts called it “one of the most attractive altcoins” and set a price target of more than $10 for Celestia. However, some pointed out that the upcoming token unlocking on October 30 may have a negative impact on TIA’s price.
Celestia (TIA) performance on the weekly chart.
