Celestia (TIA) Rises 75% but Hits Resistance — Consolidation Expected

Key Takeaways

• TIA confirmed its bullish trend with a breakout above resistance.
• RSI overbought levels suggest a short-term pullback or consolidation.
• Wave (iv) correction may follow, with $6.85 as support.

Celestia (TIA) has broken out of a prolonged descending trendline, shifting from its corrective phase to a bullish impulse.

The price surged to $8 on Nov. 24 after consolidating above $4.50, signaling strong upward momentum. It entered overbought conditions, suggesting a slight pullback before it can continue moving up.

TIA Price Analysis 

Celestia’s (TIA) daily chart reveals a decisive breakout above its long-standing descending trendline, signaling the end of its corrective phase.

The price has surged after consolidating above the $4.50 support zone since August, reaching $8 at its current peak on Nov. 24.

This explosive rally aligns with strong bullish momentum, suggesting the development of an impulsive wave structure.

The Relative Strength Index (RSI) has entered the overbought territory, reflecting the intensity of the rally but also signaling a potential short-term cooldown before the next leg upward.

The breakout above $7.27 (1.0 Fib level) confirms the bullish trend, meaning it made a higher high on Sept. 24. 

If this is the developing wave 3 of a five-wave pattern, the next major resistance aligns with the 1.618 Fib extension at $9.20.

However, considering the significance behind the $8 horizontal level and the price got overbought, it should first make a slight pullback. 

Key Observations

Breakout Confirmation: The price has decisively broken above the descending trendline and horizontal resistance, signaling the end of the correction and the start of a bullish wave.

Key Support Zone: The $4.14-$5.33 region served as a strong accumulation base, marked by multiple retests, providing a foundation for the rally.

RSI Overbought: The RSI indicates overbought conditions, suggesting a potential short-term pullback or consolidation before continuing higher.

TIA Price Prediction

Looking closely at the one-hour chart, we can see that the higher degree wave 3 was initiated on Nov. 4 and developed its lower degree wave (iii) on the recent $8 peak.

Additionally, the price reached a 2 Fibonacci extension level, measured from its first and second sub-waves.

It will likely enter a wave (iv) corrective phase as a slight pullback and consolidation. This correction is expected to align with Fibonacci retracement levels before resuming the uptrend to complete wave (v), with a short-term target of $6.85. 

Some signs of weakness and shifting momentum have already been seen, but the pullback has only been initiated. The broader structure remains bullish as long as the price holds above critical support levels.

Key Levels to Watch:

Support Levels:

1. $7.45 (1.618 Fib extension): Immediate support and potential target for wave (iv).
2. $6.85 (1.272 Fib extension): Strong support zone during the correction phase.
3. $6.39 (1.0 Fib level): Key level to maintain bullish structure.

Resistance Levels:

1. $8.10 (Wave (iii) high): Immediate resistance; a breakout would signal continuation toward wave (v).
2. $8.57 (2.272 Fib extension): Mid-term resistance and potential wave (v) target.
3. $9.16 (2.618 Fib extension): Extended wave (v) completion target.

About the Author

Nikola Lazic

Nikola Lazic is a cryptocurrency analyst and investor working in the industry since 2017. He holds a bachelor's degree in Sociology, which enables him to better understand the psychology behind the crowd´s positioning. Consequently his preferred analytical tool is Elliott Wave Theory in combination with price action analysis. Combining his experience in trading and investing with knowledge in content writing he strives to bring the most accurate and actionable information. Expertise: Cryptocurrencies, Technical analysis, Elliott Wave Theory, On-chain metrics, Research reports.

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