5 months ago
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Celestia (TIA) appears ready for the much-awaited altcoin season with decisive moves.
The altcoin witnessed some consolidations after its 30 October token unlock, which saw it releasing coins worth over $1 billion.
Nonetheless, the 50% weekly jump propelled TIA’s price beyond a descending channel and the $7.34 resistance zone.
The move triggered increased enthusiasm in the token as $12.08 became the new target – a 57.91% increase from current prices.
Celestia’s price hovers at $7.65 after hitting a daily high and low at $8.4091 and $7.5129.
Source – CoinmarketcapIts daily trading volume soared 10% to $1.41 billion, signaling investor comeback.
Thus, TIA remains poised for sustained uptrends following the recent breakout, and all eyes remain at the $12 target.
Celestia’s breakout-driven rally
TIA has traded inside a descending channel over the past months, indicating bear dominance.
However, the recent upswing past the resistance at $7.34 signaled a potential bull resurgence.
TIA’s impressive performance over the past week propelled its market capitalization by nearly 50% to $3.27 billion at press time.
That confirmed robust bullish momentum behind the altcoin’s rally.
Maintaining the current strength would see the token soaring to $12.08 and provide a lucrative Launchpad for extended uptrends.
Technical indicators and on-chain data support TIA bulls
Celestia exhibits visible bullish momentum after its breakout.
It trades well above the vital 200-day and 50-day Exponential Moving Average, confirming trend shifts to bullishness.
The Chaikin Money Flow jumped from 0.10 to 0.27 within five days.
That shows increased cash flowing into the TIA ecosystem, underscoring investor confidence in the token’s future performance.
Moreover, Santiment data shows Celestia’s social dominance increased from 0.137% to 0.281% in the past 24 hours.
That highlights surged token mentions by social media enthusiasts, which often translates to a more vibrant trading environment driving price actions.
Soring optimism among the crypto community could fuel TIA gains to $12.
Coinglass stats support the bullish outlook. The token saw liquidations amounting to $1.19 million yesterday, 24 November, with shorts accounting for $605K.
That added to the upside momentum as buyers canceled the bearish forecasts, a crucial element for sustained breakouts.
Moreover, TIA’s future open interest surged around 35% to press time levels of $386.17 million.
The uptick signals increasing market participants as more investors anticipate rallies, reflecting trust in Celestia’s performance.
Broad market sentiments also support bullish trends for TIA.
An analyst trusts Bitcoin’s current move towards the $100K would pave the way for an altcoin season in the coming months.
Bitcoin makes cycle ATH 1 year after halving and 4 year after previous ATH 👀 Previous ATH : 2021 , So new ATH 2025 Halving : 2024 , So new ATH 2025 Altcoin real fun starts after bitcoin run is over 2024 is $btc run , 2025 will be altcoin season HOLD WITH PATIENCE
An altcoin season is a period where alts outshine Bitcoin with robust gains.
In conclusion, TIA’s move past the $7.34 crucial resistance amid bullish on-chains and indicators signal upside continuation.
Maintaining the prevailing momentum would catalyze upswings to $12.08, translating to a 57.91% surge from current prices of $7.65.
Nonetheless, broad market performance remains crucial in determining TIA’s trajectory in the upcoming sessions.
The post Celestia price analysis: TIA eyes 58% surge after breaking key resistance appeared first on Invezz
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