$TIA recent 12.13% price increase, now at $6.248, is not just tied to fundamental news but also technical factors. The announcement of $100 million in new funding for Celestia has driven market enthusiasm, but technically, TIA was primed for a breakout.
Key Technical Points:
- Price Action: TIA bounced from a recent low of $5.34 and rallied to a high of $6.91 within 24 hours, indicating strong buying pressure. The price now consolidates near $6.25, suggesting traders are waiting for the next breakout.
- RSI: The 24-period RSI is 54.5, which is in a neutral zone, suggesting there is room for further upside before entering overbought conditions. This supports the possibility of another upward move if buying volume increases.
- EMA: The short-term EMAs (10, 14 periods) are hovering around $6.3, offering immediate support. A strong hold above these levels signals that bulls are defending key zones, which could lead to continued momentum.
- Volume: A surge in buying volume supports the uptrend, which often follows positive news like Celestiaâs roadmap and funding announcement.
Conclusion:
The combination of strong technical indicators and positive news makes TIAâs rally likely to continue in the near term. A break above $6.91 could push it towards new highs, while immediate support sits at $6.00. Watch for any retests of this support to confirm strength before considering an entry.
