Journalist
Posted:
Disclaimer: The information presented does not constitute financial, investment, trading or other advice and is solely the opinion of the author.
- The steady buying pressure meant TIA was likely to move higher.
- The Fibonacci extension levels gave the bulls some profit-taking targets.
Celestia [TIA] climbed higher on the price charts even as the rest of the altcoin market saw a short-term pullback. The token is up 160% in the last five days and the uptrend seems likely to continue.
The sign was launched in late September and was listed on multiple centralized crypto exchanges on October 31. Trading was quiet for the first few days, but the bullish momentum reverberated over the past week.
The retest of the $4.2 support meant that TIA is likely headed much higher
Source: TIA/USDT on TradingView
From October 31 to November 10, TIA traded well below the $3 resistance level. The break past that point and subsequent retest of the $3.16 level paved the way for further gains.
The move from $3.16 to $5.97 in recent days was used to chart a series of Fibonacci retracement levels (light yellow).
On November 13, TIA saw a return to the $4,237 level. This was exactly where the 61.8% Fibonacci retracement level was also located.
After the pullback, TIA rose above the $6 mark. This was a sign of strong bullish intent. It meant that the rally could extend to the 61.8% and 100% retracement levels at $7.72 and $8.8.
The RSI stood at 63, reflecting strong upward momentum. The On-Balance Volume (OBV) shows a clearly higher trend. Moreover, the Chaikin Money Flow (CMF) was also above +0.05, indicating significant capital flow into the market.
Measuring the lower time frame behind TIA
Source: Coinalyse
Is your portfolio green? look at the TIA profit calculator
As TIA went higher, so did the Open Interest (OI). This painted a strong bullish sentiment in the market. Over the past few hours, OI declined slightly as the token’s price hovered around the $6 zone.
Spot CVD edged higher. Just like the OBV, this indicator recorded considerable buying pressure. This reinforced the idea that demand on the spot markets remained high. Therefore, TIA has a good chance to make further profits.
