Celestia (TIA) has attracted attention by breaking above the critical resistance level at $7.34, sending strong signals that the price could continue higher.
The TIA’s move above $7.34 signals the start of a trend reversal and puts the $12.08 target level in sight. The bullish momentum is supported by increased social interaction, liquidations, and rising open interest.
Celestia (TIA) has taken a significant step forward by breaking out of the $7.34 resistance level after trading in a downward channel for a long time. This development has strengthened the bullish expectations in the market and led investors to set $12.08 as the next target. TIA is trading at $7.34 at press time and has registered an impressive price increase of 16.28%. Moreover, its 24-hour trading volume increased by 152% to $1.28 billion.
Celestia’s move above $7.34 marks a critical turning point in its price action. After months of being stuck in a downtrend, this move to the upside points to a potential trend reversal. If the momentum continues, the $12.08 target looks within reach. Additionally, TIA’s market cap is up 16.9% to $3.14 billion, indicating growing investor confidence. If this level holds, momentum could pick up and a solid foundation could be established for continued upward movement.
Interestingly, TIA’s social engagement increased to 0.211% from 0.137% the day before. This increase highlights the growing interest from the crypto community. Increased social engagement means more active trading and investing, further supporting price momentum. Therefore, the increase in community interest could be a major catalyst for TIA to reach its $12.08 target.
Liquidation data suggests that there is strong upward pressure on TIA’s price. On November 24, a total of $1.19 million in liquidations were recorded, $605,000 of which were from short positions. The closing of short positions indicated that bearish bets were invalidated, feeding the bullish rally. This suggests that buying pressure is strong and the price rally is likely to continue.
Additionally, open interest in TIA’s futures contracts increased by 21.19% to $373.91 million. This increase indicates increased market participation and more traders are taking positions during the rally. Rising open interest generally supports an upward move and indicates increasing confidence in the trend. Therefore, this metric also supports the case for further gains.
