Celestia has had a positive bullish week and traders expect this trend to continue next week. Our analysis of the liquidation chart suggests a slight pullback is likely over the weekend.
The longer-term charts show that momentum is trending down, but the increasing trading volume shows confidence in the uptrend. Based on the current evidence, a move to $8 is possible.
100% Fibonacci levels protect giving momentum to strong rally
On September 19, the recent high was $6,194. Celestia reached $6,498 but failed to close the daily trading session above $6,194. This means that the market structure has not yet turned bullish.
It seems like it is only a matter of time based on the increasing trading volume over the past few days. At the same time, OBV has also increased above the local peaks in August. This suggests that the price could soon follow suit and break the $6.2 resistance zone.
The 20- and 50-period simple moving averages show that the long-term momentum remains bearish, as they have not yet crossed. The price of Celestia cryptocurrency has crossed both averages, indicating that the short-term momentum is positive.
Target for the current rally
The previous rapid rise in the price of Celestia Coin was accumulated for ten days, and most of the profits were recorded in three days. The liquidation map shows that $7 and $8 are the areas that are likely to attract further investment.
Price will be attracted to these liquidity zones and a bearish reversal is likely from here. However, it is likely that TIA will continue to rise to $8 instead of being rejected at $7 thanks to the trading volume over the past few days.
We analyzed the liquidation level chart to determine whether traders should expect short-term price volatility. It seems they should be cautious of a pullback, as the liquidation aggregate delta is positive.
Long positions are disproportionately high, which could drag the price down to liquidate late buyers. The liquidation level chart shows short-term support levels at $5.8 and $5.6, where the correction could end and Coin Celestia resumes its uptrend.
