The cryptocurrency market is recovering as US inflation drops to 2.8%. Celestia (TIA) stands out, rising 18% after bouncing off key support.
Double Bottom Pattern on TIA Chart
TIA is trading within a double bottom pattern, indicating a potential end to the downtrend and the start of an upward move. After a short rejection at the $4.48 neckline, the price fell back to the $2.63 support level, confirming a strong support zone.
Could a Trend Break Occur?
For a confirmed trend reversal, TIA must break above the $4.48 neckline resistance with strong volume. Successful breakout could lead to a rally to the next resistance zone at $5.49 - $5.70.
Potential Developments
The MACD indicator shows early signs of a bullish crossover, often indicating momentum shifting in favor of buyers. If supported by the current pattern, TIA may approach the $4.48 resistance again.
A successful breakthrough of resistance could result in robust growth for TIA, signaling a crucial point for the cryptocurrency market.
