- TIA price has declined by 40% this month, indicating the sellers’ grip.
- The trading volume has dropped by 25% in the past 24 hours.
TIA price chart has displayed a strong selling since the 1st week of February. It has been falling by forming lower lows and lower highs, and the price has dropped below the major support level of $8. In mid-May, the Celestia price took support on the $8 mark and bounced back to the 200-day EMA.
This short-term bullish momentum extended the price to the 200-day EMA but followed the previous trend and faced resistance. The price tried twice to sustain the 200-day exponential moving average, but sellers were strong enough and dragged the price down.
According to the technical indicators, the TIA price is trading below the key moving average. MACD has generated a death crossover with the Signal line and formed a red histogram. Overall, the technical indicators are in favor of a bearish forecast.
Is It Ready to Skyrocket After Reversal?
$TIA/usdt DAILY
Entries once only dreamed about are now a reality … back to the top of the range is a 3x for $TIA, LFG pic.twitter.com/qcqueNyujR
— Satoshi Flipper (@SatoshiFlipper) June 18, 2024
According to a source on X, the TIA crypto price has fallen through a channel and is currently in the demand zone. If the price reversal from the demand zone triggers a breakout from the channel, the price may extend to the $20 mark in the next few months.
Celestia Price Prediction Over Daily Timeframe
In a daily time frame, the Celestia price has been on a bearish trend and has slipped below the major support level of $8. Below this crucial level, sellers seem strong and may eye the $5 hurdle.
If the buyers fail to bounce back, sellers might remain strong and drag the price below the $5 level. The price below the $5 level is a vital bearish sign, and all-time can be seen.
Track all markets on TradingView
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On the other hand, buyers may show interest if the Celestia crypto price bounces back and exceeds the $8 mark. The price over the $8 mark might grab the liquidity of sellers below the $8 level. The liquidity may result in a strong bullish trend.
At press time, the TIA price traded at $6.56 with an intraday gain of 2.70%. The market capitalization is $1.25 Billion, and the 24-hour trading volume is $101.60 Million. The circulating supply is 191,673,665 TIA, and the fully diluted market cap is 1,050,630,137 TIA.
Conclusion
Based on the analysis, the TIA price has been exhibiting a solid bearish trend, with the price falling below key support levels and technical indicators favoring a bearish forecast. However, there is potential for a price reversal if the price bounces back from the demand zone and triggers a breakout from the channel, possibly leading to an extension to the $20 mark in the coming months. On a daily timeframe, if the price fails to bounce back and remains below the $8 level, a further decline towards the $5 hurdle is possible.
Technical Levels
The chart structure suggests that the TIA price is expected to face resistance from the $12.00 and $15.00 mark. The price may take support on the $5.00 and $2.25 levels.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
The post <strong>TIA Price Below Major Support Level; Bears Might Dominate the Trend</strong> appeared first on The Market Periodical.