TIA is struggling to break out of the consolidation phase, with technical indicators suggesting strong upside potential.
Whale accumulation and rising open interest suggest growing market confidence, but caution is needed.
Celestia [TIA] is attracting attention as it continues to try to break out of the long-term accumulation phase that has been holding back its price movement for the past several months.
Trading at $5.95 at the moment, with a 6.85% increase in the last 24 hours, the token is showing positive bullish signs. Will TIA maintain this momentum and continue climbing, or will it be held back by resistance levels? Letâs find out.
Looking Back at TIA's Accumulation Zone: Can It Break Out?
TIA has been stuck in a long-term downtrend, as shown in the descending price channel. For months, the Token has been struggling to break above key resistance levels, located within this channel.
However, its recent attempt to push towards the upper limit could signal a potential breakout. Therefore, if TIA successfully breaks above this key resistance level, it could pave the way for further upside momentum.
Source: TradingView
TIA Technical Analysis: What Do Indicators Show?
Technical indicators present a mixed outlook. The Bollinger Bands (BB) on the daily chart reveal that TIA is testing the upper band, implying an increase in volatility.
Additionally, the Stochastic RSI is near the overbought zone, with a reading of 75.44. Although buyers dominate the market at the moment, there is still a risk of a short-term correction.
However, the overall trend suggests that if TIA breaks through the immediate resistance, it could trigger a strong rally. Therefore, traders should pay attention to the important levels before making a decision.
Source: TradingView
Major Holders Analysis: Are Whales Accumulating?
Analyzing large holders provides valuable insights into market sentiment. Currently, 57.37% of the stable supply is owned by whales, large holders with holdings of over $5 million. This level of accumulation indicates significant confidence in the assetâs future growth potential.
However, the recent fluctuations in whale activity suggest that large holders may be in a distribution phase. Therefore, keeping a close eye on these key players will be important to assess TIAâs future price action.
Source: Santiment
Open Interest Rising: Is Optimism Building?
Open interest, which has increased by 11.02%, currently stands at $294.21 million. This increase signals increased investor interest, suggesting that traders are preparing for a significant price move. Consequently, an increase in open interest usually indicates increased volatility, and for TIA, this could lead to a breakout in the near term.
Source: Coinglass
Finally, Celestia (TIA) shows promising signs of breaking out of its accumulation zone. With strong whale support and rising open interest, the market sentiment is tilted to the bullish side. However, technical indicators suggest warnings that overbought conditions could trigger a pullback.
If TIA can break above the resistance levels, a strong rally could take place. However, investors should remain cautious due to the possibility of a short-term correction.
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