Celestia (TIA) Price Ends 24% Recovery at Resistance — Breakout Still Possible

Key Takeaways

• Recent breakout hints at a potential new bullish cycle.
• A retracement is expected as RSI nears overbought levels.
• Support at $4.88 is critical for a sustained uptrend.

Celestia (TIA) has experienced a volatile year, peaking at an all-time high in February before facing a significant decline through April.

Recent price movements, including a breakout from a descending triangle, suggest the possibility of a new bullish phase, though potential retracements could test this outlook.

TIA Price Analysis

TIA’s price reached its all-time high of $21 on Feb. 10 before experiencing a sharp 65% decline by April 13. After this significant drop, TIA began a recovery phase and broke through its descending resistance, suggesting a potential uptrend.

By May 15, it successfully retested the $8 level, forming horizontal support ahead of the breakout.

After peaking at $11.70 on May 2, TIA encountered resistance and entered a downtrend, falling to $5.74 by June 24, a level not seen since November.

Supported by the 0.786 Fibonacci level, TIA rebounded by 21% to reach $7. Although a bull phase was possible, the price continued downward to $3.90 by Sept. 6. 

From its July 21 high, a descending flat triangle formed as it held horizontal support at $4. Since its last interaction with support, TIA ascended and returned to the descending resistance at $5.40. 

Considering the longevity of the previous downtrend and the fact that TIA stabilized in July, a breakout above the descending resistance could signal the coming bull phase. 

TIA Price Prediction

The hourly chart reveals a completed five-wave impulse from Sept. 6 to 24. Its following downturn was likely the corrective wave, forming a slightly higher low and a three-wave pattern. 

If this is true, TIA could be on the way to breaking above descending resistance, as its next five-wave impulse started from the Nov. 5 low of $4.20.

However, the hourly chart’s Relative Strength Index (RSI) signals overbought conditions, so the breakout might not come immediately. 

We will likely see a rejection at this time for another higher low as the lower degree of wave 2. According to this projection, TIA should maintain above $4.60 on the expected retracement before its next decisive move to the upside. 

The price target for its next higher high is $9.20, set at the 1.618 Fibonacci extension level.

However, further upward advancement will be anticipated if the price rises to those levels.