TIA's price encountered resistance at $3.80, raising concerns among traders about its ability to maintain upward momentum. Analyst Ali believes the cryptocurrency's rejection at this level could indicate a potential decline toward $1.60.
Technical Analysis of Support and Resistance Levels
Technical analysis of the chart highlights key price levels that may influence future movements. The main resistance is at $3.80. Support sits at $2.90, where buyers recently stepped in.
Analyst's View on Prolonged Downtrend
Ali’s tweet reinforces the bearish outlook, with the rejection at $3.80 serving as a key technical signal. Historical price movements suggest that a failure to break resistance often results in retests of lower support zones.
Market Forecast and Possible Scenarios
While a break above $3.80 could push TIA toward $4.50-$5.00, the overall trend points down unless we see a clear breakout. Continued rejection could lead to further declines, with $2.90 acting as an immediate test level.
The market remains under bearish pressure, and traders are watching whether buyers can defend current support levels against seller pressure.
