The Celestia (TAI) token has witnessed a remarkable price increase, bouncing back significantly after a steep decline. Five months ago, the token reached its peak at $20.09 before plummeting by 65.37%. However, since July 9, the token has shown signs of recovery, experiencing a 17.36% surge within the last 24 hours, and currently trades at $7.16.
What’s Behind Celestia’s Recent Movements?
Celestia saw its lowest price point since November 2023 on July 5, hitting $4.78, which was 80% down from its all-time high. The daily TIA/USD chart revealed a descending channel, an indicator of a downward trend. Despite this, the bulls established a strong demand level between $5.06 and $6.09, which might lead to an upward breakout if sustained.
A prominent investor, Satoshi Flipper, suggested that breaking out of the 8-month consolidation channel at $8.50 could trigger a substantial rise, emphasizing the longer the consolidation, the steeper the increase.
TIA Chart Analysis
Further chart analysis shows TIA has climbed above its 20-day Exponential Moving Average (EMA), indicating an upward trend. Staying above this support level could continue to drive the price higher. The token is also nearing its 50-day EMA at $7.51, and a successful breach could set the next target at $8.07.
The Relative Strength Index (RSI) stands at 53.07, suggesting positive momentum. If the RSI continues to rise, TIA’s value may increase, with short-term goals between $8.07 and $9.16.
Key Takeaways for Investors
- TIA’s price has rebounded strongly from its low point.
- Breaking above the $8.50 mark could signal a major upward trend.
- Current chart indicators suggest sustained upward momentum.
- Monitoring the 50-day EMA could provide insights into future movements.
- RSI trends are crucial for predicting short-term price targets.
Investors should closely watch these technical indicators to make informed decisions as Celestia continues its upward trajectory.