Celestia (TIA) Price Forms Weakening Pattern, Yet Gains Remain Possible
TIA price made a higher high today, but the upside could be limited as there are signs of overextension.
Key Takeaways
- TIA broke above its descending trendline and key levels.
- $7.45 and $9.16 are key support and resistance.
- Overbought RSI signals the potential for a short-term correction.
The price of Celestia (TIA) made a decisive breakout above its long-standing descending trendline, increasing over 80%.
Today, the price surged to a peak of $8.87, confirming a strong bullish, but there are some signs that it got overbought.
More headroom remains, but a corrective stage is anticipated.
TIA Price Analysis
Celestia’s daily chart demonstrates a robust breakout from its descending trendline, marking the end of a prolonged corrective structure.
Following months of consolidation near the $4.50-$5.30 range, the price surged to a high of $8.87 today, Nov. 28.
This breakout aligns with the development of an impulsive wave structure, suggesting that TIA is in the midst of wave (iii) of a larger Elliott Wave pattern.
The Relative Strength Index (RSI) has entered the overbought territory, indicating the intensity of the rally but also hinting at a potential wave (iv) correction in the near term.
The price has reached the 2.272 Fibonacci extension at $8.57, with the next major resistance at $9.16 (2.618 Fibonacci extension).
However, a pullback to $7.45 (1.618 Fibonacci) or lower would not invalidate the bullish outlook, as it may serve as a base for the next leg upward.
Key Observations
- Breakout Confirmation: TIA decisively broke above its descending trendline and horizontal resistance, confirming the end of its corrective phase.
- Key Fibonacci Levels: The 1.618 Fib extension at $7.45 and 2.618 at $9.16 are critical for assessing the rally’s continuation.
- RSI Overbought: Overbought RSI signals potential for a short-term pullback or consolidation before wave (v) targets higher levels.
TIA Price Prediction
The hourly chart for TIA suggests the price is in the final stages of completing wave (iii) of its impulsive structure.
It is currently facing resistance near $8.57 (2.272 Fibonacci extension).
The price attempts to break after retesting the ascending support at around $8.10, with its next significant resistance of $9.16 getting close.
This impulsive move aligns with an Elliott Wave structure, with a potential for another high before the lower-degree five-wave impulse ends.
The consolidation near the 2.272 Fibonacci extension suggests a likely wave (iv) correction as a rising wedge indicates signs of weakness. This rising wedge is a pattern that usually indicates cycle tops, which is why we will soon expect a downturn.
Since it is considered a lower-degree correction in a higher-degree wave 3, we can anticipate an ABC correction to some Fib levels below $8 once it ends.
Key Levels to Watch
Support Levels:
- $7.45 (1.618 Fibonacci): Immediate wave (iv) correction support zone.
- $6.85 (1.272 Fibonacci): Secondary support level if wave (iv) deepens.
- $5.73 (0.618 Fibonacci): Strong accumulation zone for maintaining a broader bullish structure.
Resistance Levels:
- $8.57 (2.272 Fibonacci): Current resistance, key for validating wave (iii) completion.
- $9.16 (2.618 Fibonacci): Initial wave (v) target upon breakout.
- $10.87 (3.618 Fibonacci): Longer-term resistance and extended wave (v) projection.
Holding above $7.45 will confirm wave (iv) completion and initiate the next impulsive move. A breakout above $8.57 could validate the continuation of wave (v), targeting higher extensions. Conversely, failure to sustain above $6.85 could signal a deeper correction before the uptrend resumes.
Celestia (TIA) Rises 75% but Hits Resistance — Consolidation Expected
Celestia Price Prediction 2025: Slow Recovery Could Double TIA Value
Celestia (TIA) Price Ends 24% Recovery at Resistance — Breakout Still Possible