Celestia Bullish Pattern Analysis – Will TIA Rise 35% Next
Contributor
- Celestia rallied by more than 12% on October 4, outperforming many other cryptocurrencies.
- TIA has developed a bullish continuation pattern on the daily chart, though increased trading volumes are required to support any breakout.
Bitcoin [BTC] and the broader cryptocurrency market showed slight recovery on October 4, possibly in a “buy the rumor” scenario as traders awaited US jobs data. Celestia [TIA] was at the forefront of this uptick with a 12% surge within 24 hours, priced at $5.19 during our report.
Despite these recent gains, TIA remains approximately 20% lower over the past week. Will the optimistic sentiment around TIA continue to drive upward momentum or could profit-takers instigate a price correction?
?>Celestia shows evidence of forming a cup-and-handle pattern on its daily chart—a formation that generally suggests bullish continuation and potential price appreciation.
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Source: Tradingview. p>
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For this pattern to be valid, it should be accompanied by an uptick in buying volume. The histogram’s volume bars are now green, indicating an influx in buying activity compared to selling activity. span >
A strong buy signal materializes when the Relative Strength Index (RSI) surpasses its signal line; currently, it’s trending upwards but hasn’t confirmed whether this bullish momentum will lead to further price increases yet. span >
Similarly, Chaikin Money Flow (CMF) depicts bearish trends with a negative value of -0.04—this indicator suggests that selling pressures dominate over buying pressures right now; however, if it crossover into positive territory then it may facilitate some upside breakouts down the line too! span >
The optimistic outlook seems likely since we’re projecting that TIA could increase about 35% towards reaching breakout levels around $6.92—a key signal pointing toward strengthening onwards trends ahead! P >
Liquidation Data Insights: Strong Sentiments Ahead
Celestia’s liquidation heatmap indicates more short positions than long ones taking shape across different metrics surrounding TIA right now— these findings imply traders position themselves significantly against upcoming prices potentially declining further indicating general pessimism associated throughout transactions occurring across various platforms out there today.
Source: Coinglass
Further assessment regarding funding rates aligns with what we just discussed here! Specifically speaking—TIA’s funding figures trend mostly negative currently which showcases traders’ hesitancy concerning confidence moving forward given ongoing rally lacks energy consistently pushing prices higher as we’d hoped for previously…
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If these prolonged periods where negative measure arise persist longer without evident signs of improvement among market sentiments subsequently would translate markedly into lowering values…. —- Additionally highlighted open interest regains notable strength ramping above $200 million according Banks show high interest Quote = Coinglass.) thus suggesting anyone owning shorts against such assets still firmly sticking onto holding stance while awaiting outcomes replete within current parameters shaping trades possible scope ripe limitations relative efforts noted recently leading directly back toward overall targets set forth early-on exciting opportunities waiting downstream forthcoming respectively tested near term strategies tailored under many scenarios correctly predicted like wise!& lt;/ P >
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