Celestia’s Market Trajectory: Analyst Highlights This Next Price as Pivot Point for TIA Recovery Amid Market Slump
Top crypto analyst Crypto Tony shared insights lately on the Celestia (TIA) market, emphasizing the importance of the $11.70 level for bulls. In a tweet, Crypto Tony stated, “$TIA / $USD – Update Reclaim $11.70 is important here for the bulls, otherwise no entry and we just have a bearish reaction.”
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The Bearish Downturn
Crypto Tony’s analysis featured a daily candlestick chart depicting TIA’s price movements against the US dollar. The chart revealed a pronounced downtrend, with sellers dominating the market over an extended period. Notably, a significant price drop was observed, visible as a long red candlestick breaking below a key support level, indicated by a white horizontal line. This bearish signal suggested strong selling pressure.
Following the substantial price decline, a slight recovery occurred, represented by a green candlestick. However, this recovery was relatively small compared to the preceding drop. The last visible candlestick on the chart was green, with the price noted as $10.28 at the time of analysis, showing an increase lately.
The Crucial $11.70 Level
According to Crypto Tony’s analysis, the previously broken support level, now around $11.70, has become a crucial resistance area. “Reclaim $11.70 is important here for the bulls, otherwise no entry and we just have a bearish reaction,” the analyst warned.
Support and resistance levels are areas where price has historically faced buying or selling pressure and can significantly influence future price movements. If buyers can propel TIA back above $11.70, it could signal a bullish resurgence. Conversely, a failure to reclaim this level could lead to further bearish continuation.
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Show more +Current Market Situation
At the time of writing, according to data from CoinMarketCap, the Celestia price is $10.24, down 3.25% in the last 24 hours. Crypto Tony’s analysis underscores the importance of the $11.70 level as a potential make-or-break point for TIA’s near-term trajectory.
As the market unfolds, traders and investors will monitor whether TIA can muster the strength to reclaim the crucial $11.70 resistance or succumb to further bearish pressure.
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