The past week was a week of celebrations for the Celestia (TIA) buyer. This happened as the TIA price enlisted a surge of over 20% and was inching close to a breakout. Along with the rising positive sentiment in the crypto market, the token is eyeing crossing the $5 mark.
TIA crypto has delivered noteworthy buying momentum and signaled a possible trend reversal on the chart. The token gradually gained traction and witnessed a follow-on buying momentum this week.
It made a bullish streak for the past four sessions and surpassed the 20-day EMA level. However, the altcoin was still restricted inside a falling channel. It has not yet assembled a fresh higher high swing, which conveys a bearish trend.
The token may resume the downtrend until the TIA price does not cross the $6 mark. Meanwhile, buyers have started attempting to break the $5 wall and are looking for a reversal.
TIA Price Confronts Trendline Barrier: What’s Next?
The daily chart setup indicated Celestia crypto is confronting resistance at a meaningful trendline. It has previously led to bearish rejection last month.
The Celestia price was trading at $4.84 at press time, up over 10.90% over the last 24 hours. Its market cap has risen to $683.53 Million, placing TIA as the 64th largest crypto.
Adding to this resistance, just above the current level at around $5, there lies another significant obstacle: the 50-day EMA. Traversing this resistance zone, particularly between $5 and $5.20, could pave the way for TIA.
TIA crypto must breach the $5.20 mark for a confirmed bullish breakout. The RSI line crossed the 50 mark, replicating a positive crossover on the charts, supporting the bullish outlook.
Moreover, the CMF indicator was above the zero line at 0.13. This implied increased liquidity joining the market by investors.
@AltcoinCadet, in his tweet, mentioned that TIA crypto was attempting a bounce and is set to reverse the trend.
While there are bullish signs, the TIA price prediction indicated that a significant breakout is looming. Also, the altcoin could see an upswing in the coming sessions.
Sharp Surge in Popularity
Following the TIA price increase, a whopping surge in the social dominance curve was noted over the last 48 hours. This means that the asset’s share of discussions on social media has been increasing, indicating bullishness.
Additionally, the weighted sentiment crossed the zero line at 0.594. This indicated that positive sentiment overpowers the negative sentiment that TIA crypto enjoyed a few sessions ago.
The futures market data showed that traders are looking ahead to a breakout. The sharp liquidation surge replicated the same.
The short liquidations rose to $498.63 Million, whereas the long liquidations decreased to $75.73k at press time. Short liquidations happen when traders with short positions are forced to exit to cover their losses as the price rises.
Liquidation Data | Source: Coinglass
To watch out for the coming sessions, the immediate support zones for the TIA price were $4.30 and $4. In contrast, the resistance zones were around $5.10 and $5.50.
