The price of Celestia (TIA) is finally indicating recovery after several months of decline, marked by a breakout from a descending channel.
Current Market Situation of TIA
The price of TIA has broken out of a descending channel on the daily chart, a significant signal for traders. Analyst Butterfly considers this movement "textbook perfect," suggesting that the long accumulation phase may be ending, with a potential rise to $5.50.
What the Celestia Chart Is Indicating
For months, TIA's price has remained within a range, making lower highs and lower lows. However, the latest breakout has pushed the price above the upper channel boundary, with trading volume starting to increase, confirming buyer strength.
Potential Growth Outlook
Breaking a descending channel often indicates a significant change in market dynamics, especially after a prolonged accumulation period. If the breakout is confirmed with a successful retest and increased volume, a rapid move toward $5.50 may occur. However, a retreat back into the channel could extend consolidation.
With the current market dynamics, TIA traders have renewed hope for growth after a long period of stagnation. It is crucial to monitor upcoming movements and trading volumes in the coming days.
