Crypto analyst CryptoAmsterdam has noted that Celestia (TIA) has broken above its recent consolidation range, suggesting potential upward price movement. The analyst shared technical analysis via X showing TIA’s price action breaking key resistance levels.
Technical Structure Points to Accumulation Phase
The daily timeframe chart reveals a rounded bottom formation between February and November 2024. This structure developed within a clear trading range, with support near $6.00-$7.00 and resistance around $21.00.
The pattern suggests steady accumulation during the bottom formation phase.
$TIABreaking above the range low consolidation – a clear sign of acceptance.It looks ready for expansion.Higher. https://t.co/dInXIb8yig pic.twitter.com/QXvicasqyh
— CryptoAmsterdam (@damskotrades) November 28, 2024
Market data shows the price establishing support above the $7.00 mark after breaking through the downward trendline. This price action validates the breakout from the accumulation zone, marking a shift in market structure.
Price Targets and Key Levels Emerge
Technical measurements indicate an initial target of $13.28, calculated from the height of the accumulation pattern. This aligns with an intermediate resistance zone between $13.00-$14.00, which may serve as a consolidation point during the upward move.
The previous range high near $21.00 stands as the next major resistance level. Market data shows limited price action between current levels and this target, potentially allowing for steady price expansion.
Read also: Crypto Veteran Reveals Real Bitcoin (BTC) Price Prediction for 2025
Market Structure Supports Bullish Case
The break above the range low comes with increased trading volume, supporting the validity of the move. Price action shows successful retests of the breakout level, turning previous resistance into support.
Chart analysis reveals the invalidation point sits below $7.00, where a drop would signal a failed breakout. However, current price action maintains healthy distance from this level while showing signs of continuation.
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