Bitcoin‘s value has plummeted to $67,277, causing investors to be on edge once again. The short-term sell-offs above $70,000 are adding to the challenges. The lack of supportive developments on the macroeconomic front and adverse news flows are impacting risk appetite. What will happen to TIA Coin?
What is Celestia (TIA) Coin?
The popular altcoin has surged nearly 20% today, trading at approximately $11.3. Despite Bitcoin’s decline beginning to erode gains, there had been a noticeable potential for significant recovery in the last two weeks. TIA investors are focused on accumulation, as confirmed by the rise in the Chaikin Oscillator.
This indicator measures buying and selling pressure. When it is substantially above the A/D line, it indicates intense accumulation by investors expecting further gains. Additionally, the growing interest in futures was another detail hinting at a rise. Open interest has reached the $130 million threshold, setting a new record.
How is TIA Coin Price Predicted?
If the total open positions in options and futures increase and are supported by the price, this results in professional investor optimism. The price of Celestia (TIA) Coin fluctuated widely last month, lingering in the $8-12 range. It re-entered the Ichimoku Cloud, with a target of $12, although it is not expected to find support for a move beyond that. Bitcoin’s shaky chart and Friday’s upcoming PCE data suggest that profit-taking on the recent rise could be an option for investors.
Concrete Inferences
– Surpassing the tough resistance level of $12 could lead to testing targets at $15.42 and $18.
– The key area that needs to turn into support for further rises is the horizontal support at $13.25.
– If the price closes below $10.9, investors will focus on supports at $9.8 and $8.78.
– Unexpected rapid losses in Bitcoin could be necessary for these lower support levels to be relevant.
In the event of a downward scenario, closures below $10.9 will have investors eyeing supports at $9.8 and $8.78, likely requiring unexpected rapid losses in BTC.
