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BTC price climbed up to the resistance of $43,600 before rapidly falling due to the trap of excessive long positions. Whether the inability to overcome this resistance will trigger a deeper price correction is unknown, but some altcoins began to diverge during this period, aiming for all-time high levels. TIA Coin was one of them.
TIA Coin Price
Since November 7 on the daily chart, we see that the price of TIA Coin has been steadily increasing. TIA bulls, maintaining the rising support line, reached an all-time high of $20.4 on January 15. Despite being a relatively new altcoin, TIA Coin has attracted considerable interest due to its utility and surrounding hype.
After reaching the ATH, TIA Coin confirmed the trend and support line on January 23. Bulls, initiating the expected recovery from this trend line, appear eager for a new peak. The RSI on the daily chart indicates that the rise is likely to continue.
Bitcoin, for now, has reversed the general bullish sentiment. The BTC chart, creating steep decline candles on the 15-minute graph, is struggling to hold at $42,500.
TIA Coin Price Predictions
The outlook on the six-hour chart, similar to the daily, indicates a journey towards a new ATH. The short-term chart, giving a bullish signal, is promising as the price trades within a rising parallel channel. Reclaiming the $17 horizontal support area and its potential to turn into support boosts morale for a new all-time high.
The RSI on the short-term chart is also bullish. Cryptocurrency analyst Altcoin Sherpa wrote that TIA is gathering strength before its next rise.
“TIA: In my opinion, you can scale into this current consolidation range if that’s something you like. You can see that these strong carriers have periods of significant fluctuation after the next move.”
If the bullish scenario plays out, the TIA Coin price could reach the next resistance at $20. This will be the last stop before setting a new ATH. It is also a price area that coincides with the channel’s resistance line. However, closures below $17 could lead to a price drop to $13 or lower, with losses over 30%.
