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Investors continue to face tough days, and we saw accelerated sales on the second business day of the week. BTC experienced rapid losses. Investors are focused on tomorrow’s Fed meeting, but the latest data was not encouraging. This led to new local dips being tested in altcoins.
Celestia (TIA)
The significant altcoin drop signaled on Friday triggered losses exceeding 20% for TIA Coin. Many altcoins attempted resistance tests as BTC made higher closes but have now retreated to supports. We have not yet reached the most active days for altcoins, and BTC does not seem to have reached its cycle peak. Thus, we are still in days where BTC declines heavily impact altcoins.
Focusing on the latest situation for TIA Coin, it is hovering around $8.4. The main support on the four-hour chart is $8, and TIA Coin bulls are maintaining this. The volume profile confirms a strong recovery in trading activity, marking $9 as fair value. This level has acted as support and resistance in the past and currently serves as a resistance zone.
The support level was lost not long ago, and if BTC price allows, TIA Coin might fight to reclaim this as support. Following this, the targets will be $9.44 and $9.94. Once the top resistance of the price range is surpassed, the rally is expected to accelerate.
TIA Coin Prediction
The altcoin, which lost the $8.69 support, might use the $8 support for a new bounce amid BTC’s drop to $66,000. If it falls to the base support, we should see buyers stepping in with volume. In the medium and long term, although the price is below the $8.9 and $9 range, we can mark this as a logical buying zone.
If we are to see a genuine upward attempt, it will happen with the reclaiming of the $9 threshold. Tomorrow, Fed Chairman Powell’s statements or optimistic surprises in members’ 3-year interest rate forecasts could trigger a bounce from support. However, negativity is expected to dominate the market until the May inflation data is released close to the opening of the US markets. If inflation data is favorable, we will see a relatively good environment until the Fed statements. In the opposite scenario, the level of fear will increase.
