The price of the cryptocurrency Celestia (TIA) remains under pressure following a recent rejection at a key resistance level of $2.16. New data shows a significant decline in the market.
Current TIA Market Situation
According to the latest updates, TIA's price has fallen to $1.65, representing a 6.3% daily decline and over 9% loss for the week. The market capitalization of this asset stands at just above $1.2 billion, placing it as the 70th largest cryptocurrency.
Analyst Forecasts
Analyst Van de Poppe highlighted that the rejection at $2.16 was a typical profit-taking event, leaving the token struggling to regain momentum. He outlined two potential scenarios for TIA: in the first, a higher low could be established leading to a new attempt to challenge resistance. In the second, a double bottom pattern may emerge, potentially sparking renewed buyer interest and increased volume to drive a breakout.
Future Outlook for TIA
Despite the recent downturn, Van de Poppe suggested that the market might still be in an accumulation phase, with lows being formed before a possible recovery. He emphasized that altcoins, including TIA, could see stronger performance once broader market conditions stabilize.
For now, TIA continues to trade in a bearish range, with traders closely monitoring whether it can hold above its current levels or risks another retest of lower support zones.
