The Celestia (TIA) price has caught the eye of the crypto community after it broke free from a downward trend. This change in direction is often seen as a good sign that prices might go up.
The TIA price is reportedly testing the $6.00 mark, which is significant for predicting its future movement, according to crypto analyst Claire Jensen. The TIA price movement has attracted speculators, with many waiting to see if this breakout could signal the start of a compelling rally.
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Show more +Show less – Celestia (TIA) Technical Analysis: Falling Wedge Breakout and Support Levels
This falling wedge pattern is a common indicator of a possible trend reversal used by analysts. Regarding TIA, there is hope for a possible upswing as the company breaks out of this trend.
As of now, the $6.00 level acts as a support and resistance point. Successfully holding this level could lead to further gains for TIA’s price in the near term.
On the TIA chart, Fibonacci retracement levels provide additional guidance. If TIA’s price can sustain its price above $6.00, the next resistance lies around $13.100, a key level according to the 0.618 Fibonacci retracement. A breakthrough at this point could pave the way for further upward momentum, pushing the TIA price toward $18.450.
Image Source: X/ClaireJensen
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TIA Price Movements and Fibonacci Targets
When there is a market correction, traders frequently utilize Fibonacci retracement levels to pinpoint potential regions of support and resistance. Based on its price movements, TIA appears to be trying to bounce back after a significant decline of more than 80% earlier in the year. The 0.236 level has already been broken, signaling a recovery phase.
If the $6.00 support holds, the TIA price could first target $13.100, followed by $18.450. These levels are key markers for traders eyeing TIA’s potential next moves.
Claire Jensen emphasized the importance of the $6.00 level for TIA’s price. She expressed cautious optimism about the possibility of a rally but also urged traders to watch for confirmation before making any predictions. Her sentiment reflects the broader market’s anticipation of a sustained breakout that could push TIA to new highs.
Furthermore, Jensen’s cautious approach echoes the broader sentiment among traders, with many waiting to see if TIA can break through the current resistance and begin a potential rally.
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The post Celestia Price Just Broke Out of a Falling Wedge – What’s Next For TIA? appeared first on CaptainAltcoin.
