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Altcoin Celestia (TIA) price has been on an upward trajectory since its launch on October 31, 2023, showcasing an impressive 908% increase in approximately 100 days and reaching an all-time high of $20.91 on Friday. Moreover, further expectations for this altcoin could materialize if certain conditions are met.
Will Altcoin Celestia’s Price Continue to Rise?
The price of Altcoin Celestia has been consolidating for over two weeks between $13.88 and $20.33, displaying a complex pattern. Breaking above the midpoint of the range at $17.11, the price resulted in a 22% increase and propelled TIA to an all-time high of $20.91 on February 9. However, the candlesticks in the subsequent twelve hours closed below the lowest level of the range, creating some uncertainty among holders.
Looking forward, two potential scenarios could emerge for altcoin TIA. Firstly, successfully converting the highest level of the range into a support level, particularly targeting the $24.31 price point, which is the 161.8% Fibonacci Extension level, could lead to an extended rally to new all-time highs. Conversely, a rejection at the high range could cause a retest of the midpoint support at $17.11.
Despite current bullish indicators from the Relative Strength Index (RSI) and Awesome Oscillator (AO), the price of altcoin Celestia could witness minor pullbacks and potentially offer a buying opportunity around $18.23 before attempting to surpass the $20.33 resistance.
Bitcoin’s Stability Will Be a Key Determinant
Nevertheless, attention must be paid to broader market conditions, particularly the volatile position of Bitcoin’s price. A sudden 5% correction in Bitcoin could trigger significant declines in altcoins and potentially lead to double-digit losses.
A twelve-hour candlestick close below the midpoint of the range at $17.11 support for Altcoin Celestia would invalidate the bullish outlook for TIA.
In such a scenario, investors should expect the price of altcoin Celestia to revisit the low range of $13.88 and potentially indicate a shift in market sentiment. As always, careful monitoring of fundamental support and resistance levels and a good understanding of broader market dynamics are necessary for informed trading decisions in the volatile cryptocurrency environment.
