The price of Celestia ( TIA ) has been rising since January 13, confirming a long-term ascending support line. Although the price of Celestia fell after this, on January 23, the asset confirmed the trend line and horizontal support area, marking the beginning of the current rebound. The daily Relative Strength Index (RSI) is giving a bullish reading. The indicator rebounded from 50 and continues to grow.
Celestia (TIA) Price Forecast: Should we expect an all-time high?
Technical analysis of the six-hour time frame supports the possibility of growth. The chart below shows that TIA is trading inside an ascending parallel channel and has reclaimed the $17 horizontal area, confirming it as support. The 6-hour RSI is above 50 and rising.
If Celestia continues to move higher, it could reach the next resistance at $20, which is 10% higher than the current price. This is the last resistance area before the new all-time high, which coincides with the upper boundary of the channel. However, a close below $17 would invalidate this scenario and could result in a 30% drop to the nearest support level at $13.
Is the $20 Mark Achievable?
According to the most likely scenario within the framework of Elliott wave analysis, in November, the price began a five-wave upward movement. Meanwhile, the six-hour RSI supports continued growth. The indicator has made a bullish breakout of the bearish divergence trend line and is above the neutral level of 50. All this strengthens the bullish signals.
If TIA breaks the upper boundary of the channel, the first target for the top of the fifth wave will be $18.50 above the current price. The target is calculated by defining the length of the fifth wave as 0.618 times the length of the first wave. The second most likely target for the formation of a top is $20.10 (the length of the fifth wave is calculated as the combined length of waves one and three). Achieving it will mean an increase in altcoin by 50%.
About Celestia
Celestia is a blockchain network that adopts a modular approach to address scalability issues commonly found in classical blockchain systems. TIA is the native token of the blockchain, and the digital asset (TIA) has a market capitalization of $2.9 billion. Celestia occupies position 33 in the global cryptocurrency rankings, with an average daily trading volume of $109.1 million. The current price is $17.77. Over the last 24 hours, the price has changed by -2.074%. There are a total of 162,303,802 coins in circulation.
