CandleFocus

Celestia price recovery expected as TIA becomes oversold after recent dip

Author: Content Editor
Celestia (TIA) has experienced a significant drop in price over the past week, falling from $5.3908 to $4.3291. This decline is attributed to increased selling momentum and bearish actions in the overall cryptocurrency space. Additionally, the recent release of tokens worth over $1 billion by the project has contributed to the downward pressure on TIA. However, technical indicators suggest a possible recovery for Celestia. The Bollinger Bands on the 24-hour chart are contracting, indicating that the recent decline could slow down. The Relative Strength Index (RSI) also suggests oversold conditions, further supporting the potential for an upside reversal. The altcoin currently trades at $4.50, and if it can maintain the support at $4.12, it could see a bounce-back to the $5.23 level. However, failure to hold the support could lead to further downside towards $3.72. The direction of TIA's price will also be influenced by broader market performance, especially with the US Presidential elections and the FOMC meeting. Despite the volatility in the cryptocurrency sector, analysts remain optimistic, with some predicting that BTC could reach new all-time highs in 2024, which could benefit altcoins like TIA.

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