Tight Range for Celestia (TIA): Is a Breakout Brewing or a Breakdown Ahead?

• Celestia is currently hovering around the $0.64 level.
• TIA’s daily trading volume has increased by over 17%.

The crypto market cap has fallen briefly by over 0.51%, settling at $3.09 trillion. The majority of the assets are charted in, losing momentum, including the largest assets, Bitcoin (BTC) and Ethereum (ETH). With the fear sentiment, the prices exhibit modest up and down movement within their recent price zones. 

Meanwhile, Celestia (TIA) has posted a 4.44% gain in the last 24 hours. The asset’s low and high trading ranges were noted between $0.5955 and $0.6573, respectively. Upon the bullish shift gaining more traction, the TIA price could move up, hitting recent highs. 

As reported by the CoinMarketCap data, at the time of writing, Celestia traded within the $0.6461 mark, with its market cap staying at around $543.23 million. Besides, the daily trading volume of TIA has increased by over 17.83%, and is currently resting at $141.58 million. 

Where Could the Celestia Price Go from Here?

Celestia’s Moving Average Convergence Divergence (MACD) line is slightly above the signal line, which hints that the momentum may shift upward. But both lines being below the zero line show that the broader trend remains bearish. The Chaikin Money Flow (CMF) indicator value of TIA at -0.03 points out a mildly negative money flow into the asset. Notably, there is a brief selling pressure, but it is not strong enough to signal heavy distribution. 

If the bearish shift intensifies, the Celestia price could likely fall toward the crucial support at around $0.6454. The death cross might unfold, with the strengthened downside correction, and the bears would push the price lower to $0.6447. 

On the upside, assuming the bulls reclaim the momentum and climb to the nearby resistance at around $0.6468. Further breakout of Celestia could trigger the golden cross to take place, and take the price toward the $0.6475 range or higher. 

Moreover, the Bull-Bear Power (BBP) reading of Celestia at 0.033 indicates slightly positive momentum. As the value is above zero, the bulls have a very light advantage, but the strength is not significant. TIA’s daily Relative Strength Index (RSI) value of 57.28 suggests moderate bullish sentiment in the market. It is above 50, and the buyers have the upper hand. Also, there is still sufficient room for moving upward.

Top Updated Crypto News

Ethereum (ETH) Faces the $3K Test: Downside Correction or a Bounce Back?