Celestia (TIA) has struggled to break out of a three-month-long persistent downtrend, with several unsuccessful attempts to sustain gains above key resistance levels.
This suggests a market lacking strong conviction, with investors hesitant to push the altcoin into a clear upward trajectory.
Celestia Finds Support From Investors
The Chaikin Money Flow (CMF) indicator has shown a modest increase recently but remains just below zero. This implies that while capital inflows are present, overall investor confidence is tentative.
Buyers seem to be attracted by TIA’s relatively low price, yet the momentum isn’t strong enough to decisively break the downtrend.
The CMF’s failure to climb above zero signals lingering caution and suggests that traders are only cautiously entering positions. This tentative interest may result in heightened volatility unless broader market support emerges.
The Relative Strength Index (RSI) spiked briefly into bullish territory but has since retreated below the neutral 50 level. This pattern points to fragile bullish momentum, likely hampered by selling pressure or external market uncertainties.
The drop below 50 reinforces the notion that TIA’s price recovery is precarious. Without renewed buying strength, it faces difficulty overcoming resistance and may continue to languish in subdued trading ranges.
TIA Price Aims To Jump
Currently trading around $2.54, TIA is testing a critical support level at $2.53. This level is pivotal for stabilizing price action and preventing further losses, especially after failing to surpass the $3.00 resistance during its prolonged downtrend.
A significant upward breakout appears unlikely for now. However, if support at $2.53 holds, TIA might consolidate, potentially building momentum to retest the $3.00 resistance after breaching $2.73.
Conversely, a decisive break below $2.53 could intensify bearish pressure, pushing the price down toward $2.27. Such a move would invalidate short-term bullish prospects and increase downside risks.
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Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
