Celestia (TIA) Breaks Out: Will the Rally Sustain?
The price of Celestia ($TIA) surged past the critical $7.34 resistance level, signaling the potential for a sustained rally. Over the weekend, the cryptocurrency market saw notable gains, with a significant inflow of capital into altcoins. While Bitcoin maintained a stable range and its dominance decreased, several major altcoins, including $XRP, managed to break through key resistance levels.
TIA, one of the standout performers, has climbed more than 25% since November 23. The altcoin surpassed a crucial resistance point, sparking discussions about double-digit price levels.
According to an analysis by AMBCrypto, Celestia's price has reversed its downward trend, with the recent move above $7.34 serving as a catalyst. The report noted:
“Breaking the $7.34 resistance has initiated a bullish cycle, with traders eyeing $12.08 as the next key level.”
The breakout is particularly significant, as TIA had been trapped in a descending channel for months. This move could signal a trend reversal, with the market capitalization rising to $3.14 billion and attracting new investors.
The analysis further explained that sustaining the $7.34 level as a support could solidify the foundation for continued upward momentum. If the positive trajectory persists, AMBCrypto predicts that TIA could comfortably hit $12.08.
TIA’s growing social presence also highlights increased community interest, with its social dominance reaching 0.211% recently. This rising attention from the crypto community could act as a catalyst for further price gains.
Additionally, futures open interest for TIA has grown by 21.19%, indicating that traders are increasingly opening long positions, anticipating further price increases.