Will Celestia (TIA) fight back? – brief price prediction
(note: the post contains data by CCN)
TIA, the Celestia blockchain's native token, has seen a short downtick, bringing the price down by 10%. The downsurge took place amidst the durable bullish sentiment that TIA has been experiencing since February. But will Celestia manage to rebound?
First, CoinCodex had a short-term Celestia price prediction that said the token would drop to $21.21 on March 16 before recovering somewhat to reach $53.39 on April 10. The site’s technical analysis was bearish, with five indicators sending bullish signals and 15 making discouraging ones.
At the same time, DigitalCoinPrice said that TIA could reach $22.81 this year. Bitnation claimed the token could be worth $28.96 at that time. PricePrediction.net argued it would be worth $14.36 in 2024.
Since it entered the market at $2 on November 1, 2023, TIA has exhibited a steady climb, reaching $21 by February 10
However, after this a trend shift occurred. On April 13 TIA fell to $7.40, resulting in a 65% decrease since its all-time high.
Looking ahead, two scenarios are plausible. We could see the start of a next major uptrend. However, because the price is still in its descending channel, the price drop might continue further.
This descending channel could be its first bull cycle correction in a bullish scenario and the first sign of confirmation would come as a breakout from its resistance level. If that happens TIA could be on the path of achieving a new all-time high in its next advancement.
But should we see a rejection following a larger drop, TIA could continue decreasing to $5 at its first potential target.
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