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TIA Tops Market Gains — Can Bulls Reclaim $2 After Strong Weekly Start?

2 mins
Updated by Ann Maria Shibu
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In Brief

  • Celestia’s native TIA coin is up 12%, trading at $1.65 due to growing spot demand and bullish technical indicators.
  • The Elder-Ray Index signals strong buying pressure, reaching its highest value since May 14, suggesting further upward momentum.
  • TIA’s Parabolic SAR indicator shows dynamic support at $1.42, reinforcing bullish sentiment and potential for a rally to $2.
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As the broader crypto market starts the new trading week on a positive note, Celestia’s native coin, TIA, is today’s top gainer. The altcoin trades at $1.65, up 12% over the past day.

Technical indicators point to strong demand from spot traders, hinting at the possibility of an extended rally in the short term. This analysis explains why. 

Strong Spot Demand Sends TIA Soaring

With today’s trading session already underway, TIA’s Elder-Ray Index has posted a green histogram bar, indicating mounting buying pressure in the market. As of this writing, this indicator, which tracks the strength of buyers and sellers, is at 0.150, its highest value since May 14. 

TIA Elder-Ray Index.
TIA Elder-Ray Index. Source: TradingView

The Elder-Ray Index measures the strength of buyers and sellers by comparing current prices with an exponential moving average (EMA). When its value is positive, bulls (buyers) dominate the market, and there’s upward pressure on the asset’s price.

Traders view this as a bullish signal and could prompt them to accumulate more TIA coins, increasing the upward pressure on its price. 

Further, readings from TIA’s Parabolic Stop and Reverse (SAR) indicator show that it has now formed dynamic support below the coin’s current price level. While TIA trades at $1.64, the indicator forms a support floor for its price at $1.42, indicating sustained interest from buyers.

TIA Parabolic SAR.
TIA Parabolic SAR. Source: TradingView

An asset’s Parabolic SAR indicator identifies potential trend direction and reversals. When its dots are placed under an asset’s price, it indicates it is witnessing bullish momentum, and its price could continue to rally if buying persists. 

TIA Bulls Target $2 as Momentum Builds—But Risks Linger

With upward momentum building, TIA could reclaim the key psychological level of $2 soon if the current trend holds. A break above the $2 price level could pave the way for a further rally toward $2.27.

TIA Price Analysis.
TIA Price Analysis. Source: TradingView

However, a bearish shift in market sentiment could invalidate this bullish outlook. If selling pressure climbs and demand dips, TIA could shed recent gains and plummet to $1.31.

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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 ConditionsPrivacy Policy, and Disclaimers have been updated.

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Abiodun Oladokun
Abiodun Oladokun is a Technical and On-Chain Analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including decentralized finance (DeFi), real-world assets (RWA), artificial intelligence (AI), decentralized physical infrastructure networks (DePIN), Layer 2s, and meme coins. Previously, he conducted market analysis and technical assessments of various altcoins at AMBCrypto, utilizing on-chain analytics platforms like Messari, Santiment...
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