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Celestia (TIA) Hits $20 and Retreats – Analyzing Its Market Movement

2 mins
Updated by Ryan James
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In Brief

  • Celestia's (TIA) price has traded inside a long-term ascending parallel channel since November 2023. It reached a new all-time high today.
  • The daily time frame price action, RSI and wave count all support the continuing of the upward movement. The TIA trend remains bullish.
  • Despite the bullish TIA price prediction, a drop below the wave one high will mean the local top is in, leading to a downward movement.
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The Celestia (TIA) price has increased swiftly since January 3, reaching a new all-time high price of $20.18 today.

TIA trades at the resistance trend line of a long-term pattern. Will it break out or get rejected?

TIA Reaches Channel’s Resistance

The technical analysis of the daily time frame shows that TIA has increased alongside an ascending parallel channel since November. More recently, it bounced at the support trend line twice (green icons) on January 3 and 8, respectively.

The TIA price has accelerated since, reaching a new all-time high of $2.18 today. The high was made at the channel’s resistance trend line. However, TIA fell slightly after reaching the high.

TIA Price Movement
TIA/USD Daily Chart. Source: TradingView

The RSI is a momentum indicator traders use to evaluate whether a market is overbought or oversold and whether to accumulate or sell an asset.

Readings above 50 and an upward trend suggest that bulls still have an advantage, while readings below 50 indicate the opposite. The weekly RSI is bullish since it is increasing and has moved above 70 (green icon).

What do Analysts Say?

Several cryptocurrency traders and analysts have a positive view on the future TIA price trend.

George1Trader noted the TIA price has reached his target of $20.

Celestia (TIA) Price Movement
TIA/USDT Hourly Chart. Source: X

ColdBloodShill believes the price will continue to increase, tweeting:

Looks as though the new trend is starting to spread it’s wings.

Hokage urged his followers to stake at least $50 of TIA to farm airdrops, while Jay is impressed by the rally.

Read More: Best Upcoming Airdrops

TIA Price Prediction: How Long Will Increase Continue?

The six-hour time frame suggests the TIA increase will continue because of its bullish wave count.

Technical analysts utilize the Elliott Wave theory to ascertain the trend’s direction by studying recurring long-term price patterns and investor psychology.

The most likely count suggests that TIA is in wave three of a five-wave upward movement (white). The sub-wave count is in black, showing that wave three has extended.

If the count is correct, TIA can increase by 60% to the next resistance at $30, giving waves one and three a 1:1.61 ratio.

TIA Price Prediction
TIA/USDT Six-Hour Chart. Source: TradingView

Despite this bullish TIA price prediction, falling below the wave one high at $17.50 (red) will invalidate the count. This can cause a 30% fall to the closest support at $13.30.

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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 ConditionsPrivacy Policy, and Disclaimers have been updated.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)