- Celestia broke out of the descending channel and is targeting $6.9 for its next resistance.
- The TIA market is growing in confidence as social dominance increases and open interest grows.
Celestia [TIA] After successfully breaking through its descending channel it has gained traction, preparing itself for potential bullish runs.
Analysts are watching to see if TIA, which was trading at $5.97 with a 4.39% increase at the time of press, can maintain this momentum.
The token faces a crucial test now: can it break through the next significant resistance level at $6.9 to trigger a bigger rally?
TIA descending channel breakout
Market optimism has been ignited by the breakout of the channel descending that has formed for many months.
Celestia is now facing key resistance at the $6.9 level, and if it can be cleared could result in a prolonged rally. Another breakout would target the $11.9 price level as the next important price level.
If TIA falls below $6.9, it could fall into its previous consolidation zone. Therefore, traders will closely monitor levels in the next few days.
TradingView
RSI and MACD: TIA Technical Analysis
Technical indicators show that the relative strength (RSI), which measures market balance, has reached 55.19. It reflects a slightly bullish but balanced market.
Celestia still has some room for growth, as it is below the overbought level.
Also, the MACD signal is nearing a bullish crossing, which may propel Celestia even higher. The token’s gains could be extended if the current trend continues.
TradingView
Market sentiment and social dominance
The social media sentiment is a major factor in the price of cryptocurrencies. Recent data shows that TIA has a social dominance of 0.049%. This indicates that the company is slowly gaining traction with retail investors.
Even though this is a relatively small number, it often occurs in conjunction with an upsurge in retail interest.
TIA’s increasing visibility can boost its bullish momentum if it attracts more traders to invest and discuss the token.
Santiment
Interest in the market and confidence
Open interest for TIA Futures is currently $317.32 Million, which represents a 0.66% rise. The rise in open interest indicates that traders have confidence in the short-term performance of the token.
An increase in Open Interest is usually indicative of increased trading activity and can boost market momentum. The increase in interest for futures adds to the optimism surrounding TIA’s breakout.
Coinglass
Is your portfolio green? Have you checked out your portfolio? TIA Profit Calculator
Celestia is in a good position for future gains, as its technical set-up and the growing market interest show.
It is important that the token maintains its momentum by breaking through this $6.9 barrier. If TIA is able to clear the $6.9 barrier, then it can target higher levels such as $11.9.
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Source: ambcrypto.com
