Celestia (TIA) has reached an all-time high of $17.2, continuing its upward trend since November 10. The cryptocurrency has been trading within a rising parallel channel, with multiple touches on its resistance and support trend lines. Recently, TIA was rejected by the channel’s resistance trend line on December 16, leading to a downward breakout on December 25. However, after a drop to $9.36 on January 3, TIA’s price swiftly rebounded and re-entered the channel, hitting a new all-time high just hours before.
Investors and analysts are optimistic about TIA’s future after the significant price recovery from the January 3 low. George1trader highlighted TIA as one of the best-looking coins currently, while there’s also a noted price flow from SEI to TIA.
Utilizing Elliott Wave theory, which synthesizes long-term price patterns and investor psychology to determine a trend’s direction, suggests TIA is in the third wave of a five-wave uptrend. If this count is correct, the second wave ended on January 3. Meanwhile, the RSI indicator is rising, and a hidden bullish divergence suggests the continuation of the uptrend.
If the upward price movement persists, possibly influenced by Bitcoin, TIA’s first target could be a 43% increase to $22.80, with potential to reach $31, a 95% rise. However, if TIA closes below the $14.60 support, a bearish trend could be indicated, potentially leading to a 40% drop to the next support at $9.40.