Key Takeaways
As the price of Celestia (TIA) finished its long-lasting correction, it entered a consolidation phase.
The daily time frame highlights the larger trend, characterized by a corrective structure, while the hourly time frame reveals a potential impulsive wave structure in its early stages.
The daily chart reveals TIA’s progression through a multi-legged corrective pattern, completing a W-X-Y-X-Z structure.
The price entered a consolidation zone after the corrective phase culminated at $4.33.
This level aligns with a historically strong demand area, as evidenced by multiple bounces in the past year.
A descending trendline originating from the all-time high remains unbroken, acting as a dynamic resistance.
However, the Relative Strength Index (RSI) is rebounding from oversold conditions, indicating a potential shift in momentum.
The price’s higher low within the $4.33-$4.50 support range suggests accumulation, while a break above $5.49 (0.236 Fibonacci retracement) could trigger further bullish momentum.
The larger trend remains bearish unless the price decisively breaks the descending resistance and establishes itself above the $6.21 zone (0.382 Fibonacci retracement).
The hourly chart offers a micro-view of the developing trend, showcasing early impulsive wave formations. Wave (i) appears nearly complete, with price action peaking near $5.65.
A corrective Wave (ii) is anticipated, likely retracing to Fibonacci levels between $5.49 (0.236) and $4.33, providing a potential reentry for bulls.
Should this retracement materialize, Wave (iii) is expected to exhibit strong bullish momentum, targeting the $6.21-$6.79 range (0.382 and 0.5 Fibonacci extensions). Subsequent corrective Waves (iv) and (v) would likely consolidate and extend gains, culminating near $7.38 (0.618 Fibonacci retracement).
The RSI on the hourly time frame supports the outlook of a bullish continuation, as it remains in a rising trendline while avoiding overbought territory.
However, this structure would be invalidated if the price drops below the $4.98 zone, breaking the lower trendline and signaling a resumption of the bearish trend.