The price of Celestia (TIA) has reached another all-time high
The price of Celestia (TIA) has increased since November 10, reaching a new all-time high of $16.88 today.
TIA is now in price discovery. How long will this increase continue?
TIA accelerates upward movement.
Since November, the price of TIA has increased in a rising parallel channel. The resistance and support trend lines of the channel have been confirmed several times.
Recently, the TIA was rejected by the channel's resistance trend line on December 16 (red icon). This led to a downward movement that resulted in a channel breakdown on December 25.
TIA then fell to $9.36 on January 3rd. The price quickly rose and retook the support trend line of the channel. TIA reached a new all-time high today.
Many cryptocurrency traders and analysts are bullish on TIA's prospects for the future due to the great recovery after the January 3 low. George1trader believes that TIA is one of the best looking coins right now, while Jay suggests that there is a shift from SEI to TIA.
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TIA Price Forecast: How long will the rise continue?
Elliott Wave Theory involves the analysis of recurring long-term price patterns and investor psychology to determine the direction of a trend.
The most predictable count indicates that the altcoin has started three waves in a five-wave uptrend (white). The sub-wave count is given in black. If the count is correct, wave two ended on the 3rd week of January, and the price started a new upward movement.
Traders use the RSI as a momentum indicator to assess whether the market is overbought or oversold and whether to stock or sell an asset. If the RSI reading is above 50 and the trend is up, the bulls still have an advantage, but if the reading is below 50, the opposite is true.
The indicator is increasing and is above 50, both signs of a bullish trend. Also, it has created a latent bullish divergence, a sign of trend continuation.
If the upward movement continues, TIA's top initial target will be $22.80, 43% above the current price. If the move is extended, TIA can increase by 95% to $31.
Despite this huge TIA price projection, a close below the $14.60 support means the trend is weak. If that happens, a 40% drop to support at $9.40 is likely.
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Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
