Crypto analyst CryptoAmsterdam has noted that Celestia (TIA) has broken above its recent consolidation range, suggesting potential upward price movement. The data supports this scenario.
Technical Structure Points to Accumulation Phase
The daily timeframe chart reveals a rounded bottom formation between February and November 2024. This structure developed within a clear trading range, with support near $6.00-$7.00 and resistance around $21.00. This suggests steady accumulation during the bottom formation phase.
Price Targets and Key Levels Emerge
Technical measurements indicate an initial target of $13.28, calculated from the height of the accumulation pattern. This aligns with an intermediate resistance zone between $13.00-$14.00, which may serve as a consolidation point during the upward move. The previous range high near $21.00 stands as the next major resistance level.
Market Structure Supports Bullish Case
The break above the range low comes with increased trading volume, supporting the validity of the move. Chart analysis reveals the invalidation point sits below $7.00, where a drop would signal a failed breakout. However, current price action maintains healthy distance from this level while showing signs of continuation.
The market structure analysis for TIA shows a perspective for further price expansion, as indicated by technical data.
