World

Resistance

Convergence

Celestia

Divergence

After a month-long decline, the <a href="https://www.thecoinrepublic.com/price-prediction/celestia/">Celestia </a>(TIA) token has made its base around the $4 mark. It triggered a recovery last week. 
Despite the heightened volatility in the market, the TIA token price decisively sustained beyond the 20-day EMA mark. It anticipated an upcoming breakout. 
Notably, it made a double bottom pattern and was eyeing to escape from the channel’s trajectory above the $6 mark. Other major alts have willingly pumped out onto the week, while Celestia has staged a stunning comeback. 
This seemed to respond positively to the chart overall. Also, the affirmation of support was around the $4 mark at the lower end and the retest of the neckline.&nbsp; 
Fueled by the increased accumulation and a noteworthy rebound from the channel lows, the TIA token is set for a breakout ahead. Additionally, investors are eyeing the platform’s first major upgrade, the ‘Lemongrass.’&nbsp; 
According to Celestia, this upgrade brings several consensus layer changes aimed at enhancing the functionality and performance of the platform.&nbsp; 
<h2 class="wp-block-heading" id="h-celestia-seems-set-for-a-breakout-price-action-outlook">Celestia Seems Set for a Breakout: Price Action Outlook</h2> 
The One-Day Celestia (TIA) chart revealed that the price was riding on a significant downtrend. It represented a correction in the past few weeks. 
It formed a falling wedge pattern and depicted a series of lower lows for the past few weeks. However, the correction wave ended, and signs of pullback were spotted.&nbsp; 
If the token price escapes the overhead trendline of $6.20, it may revisit the 200-day EMA mark in the short term. <iframe loading="lazy" title="Santiment Chart: Price (TIA), Volume (TIA), RSI 1d (TIA)" width="800" height="425" src="https://embed.santiment.net/chart?ps=ordi&amp;pt=ORDI&amp;df=2024-02-13T18%3A29%3A59.649Z&amp;dt=2024-08-13T18%3A29%3A59.649Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bcelestia%3BTIA%5D%3B%5B1%3Bvolume_usd%3Bcelestia%3BTIA%5D%3B%5B1%3Brsi_1d%3Bcelestia%3BTIA%5D&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%2C%22__appliedInterval%22%3Atrue%7D" scrolling="no"></iframe> 
When writing, Celestia token was trading at $5.60, added 2.30% intraday with a trading volume of $98.85M. A change of +47.46% accompanied this. 
It has jumped over 46% over the past week, securing the 56th position with a market cap of $790.43M. 
World Of Charts (@WorldOfCharts1) tweeted that the TIA price reached the edge of the resistance zone. Now, it is trying to surpass the crucial $6 mark. A major upward movement can be seen ahead if it succeeds in cracking the region. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <a href="https://twitter.com/search?q=%24Tia&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Tia</a><a href="https://twitter.com/hashtag/Tia?src=hash&amp;ref_src=twsrc%5Etfw">#Tia</a> Testing Resistance Still Expecting Massive Bullish Wave Incase Of Successful Breakout <a href="https://t.co/uIUZH3TwVx">https://t.co/uIUZH3TwVx</a> <a href="https://t.co/Rbk0kvoQuH">pic.twitter.com/Rbk0kvoQuH</a>— World Of Charts (@WorldOfCharts1) <a href="https://twitter.com/WorldOfCharts1/status/1823238031735935323?ref_src=twsrc%5Etfw">August 13, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
The Moving Average Convergence Divergence (MACD) indicator displayed a rise in the green histogram. It suggested constant buying pressure throughout this week. 
Similarly, the RSI line reached the 55 mark, underlying the bullish observations. Its average trendline showed a bullish curve, implying a potential reversal ahead.&nbsp; 
<h2 class="wp-block-heading" id="h-funding-rate-observed-a-negative-reading">Funding Rate Observed a Negative Reading</h2> 
The funding rate across the exchanges was negative and remained below the zero line over the weekend, noting around -0.0139%. This negative data implied a bearish bias and a sign of negative sentiment among the investors. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="233" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120-1024x233.png" alt="Funding Rate Data | Source: Coinglass" class="wp-image-661621" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120-1024x233.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120-300x68.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120-768x175.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120-150x34.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120-696x158.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120-1068x243.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-120.png 1367w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 Funding Rate Data | Source: Coinglass
 </figcaption>
</figure> 
However, the futures Open Interest (OI) rose over 1.50%, reflecting a mild long addition in the past 24 hours. Undoubtedly, the OI also floated negatively and is near the weekly lows. 
If the market continues trading under a positive sentiment, the TIA price might attempt to cross its upper resistance of $6. It may reach the $7.40 mark next week. 
Conversely, if a price rejection occurs, the token might soon skip the momentum run and retest the lower neckline of $4.30. 
The post <a href="https://www.thecoinrepublic.com/2024/08/13/celestia-tia-price-gears-up-for-breakout-10-milestone-next/">Celestia (TIA) Price Gears Up For Breakout: $10 Milestone Next?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Celestia (TIA) Price Gears Up For Breakout: $10 Milestone Next?

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