The cryptocurrency market is showing signs of recovery today after weeks of significant corrections. Many altcoins are turning green again, bouncing back from their recent lows.
Celestia (TIA) Dynamics
The weekly chart for Celestia (TIA) shows that the price has been consolidating within a descending triangle and a falling wedge pattern. The downtrend began on December 2, after a rejection at the $9.28 resistance level, leading to a sharp decline. This downward move pushed TIA to a crucial support zone at $2.35, aligning with the lower boundary of the falling wedge. However, the price has held steady at this level and is now trading around $3.07. Historically, this level has acted as a strong support, and if the pattern repeats, a bounce is likely.
Gala (GALA) Movement Analysis
Similar to TIA, Gala (GALA) has been consolidating within a descending triangle pattern. The recent downtrend, which started on December 2, was triggered by a rejection at the $0.066 resistance level. This correction took GALA down to a major support zone at $0.018, but the price has managed to hold. GALA is now trading around $0.022. This level has historically been a strong rebound zone, and if the trend holds, GALA could soon challenge the 100-day SMA as a key resistance.
Prospects for Further Recovery
Both TIA and GALA are showing strong resilience at their key support levels. The next move will largely depend on the broader market, especially Ethereum (ETH), which is currently trading at $2,666. If ETH maintains its recovery momentum, it could help altcoins like TIA and GALA confirm a breakout. On the technical side, the MACD indicator on both charts is still bearish but showing signs of weakening downward momentum. If a bullish crossover occurs, it could signal a potential trend reversal and fuel a strong recovery.
While the market remains volatile, the current support levels suggest that a bounceback could be on the horizon for both TIA and GALA.
