Bullish Momentum in TIA/USDT: Critical Resistance Levels Ahead
The 1-hour and 4-hour charts for TIA/USDT show significant developments. After a period of trading within a descending channel, the price experienced a sharp breakout, pushing above key resistance levels. In the 1-hour chart, the price action indicates a strong upward momentum after breaching the descending channel's upper boundary, now hovering around $5.60. The RSI is at 64.87, signaling strong bullish sentiment, but it's approaching overbought territory. The MACD shows bullish divergence with the MACD line crossing above the signal line, further confirming the upward trend.
On the 4-hour chart, the price is still below the 200-period SMA at $5.93, which could act as resistance if the upward momentum continues. The RSI is also elevated at 64.30, consistent with the shorter time frame, indicating a continuation of the bullish trend, though caution is advised as the RSI approaches overbought levels. The MACD on the 4-hour chart also supports the bullish outlook, with the MACD line above the signal line, although the histogram is showing signs of slowing momentum.
Bullish Scenario: If the price can break and hold above the 200-period SMA on the 4-hour chart, it could target the $6.03 level, with potential further upside toward $7 if the bullish momentum is sustained.
Bearish Scenario: If the price fails to break the 200-period SMA and starts to reverse, support could be found around $5.00. A break below this level could signal a return to the previous descending channel, with further downside toward $4.00.
Disclaimer:
The information provided is for educational purposes only and should not be considered financial advice. Trading cryptocurrencies carries a high level of risk and may not be suitable for all investors. Always conduct your own research
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