Market
Can Celestia (TIA) Price Rebound Above Key Resistance Levels?
Celestia’s (TIA) price remains uncertain as both trend indicators and key levels fail to provide a clear direction. The ADX and Ichimoku Cloud show weak momentum, indicating a lack of decisive strength from either bulls or bears.
While the EMA lines and support/resistance levels hint at consolidation, a breakout in either direction is needed to determine the next significant move.
TIA Next Direction Is Still Not Defined
The ADX (Average Directional Index) on the TIA DMI chart (Yellow Line) stands at 16.5, indicating a weak trend. ADX is a momentum indicator used to assess the strength of a trend, regardless of its direction.
Typically, an ADX value below 20 suggests that the trend is not strong, while values above 25 indicate a more defined trend. With the current value at 16.5, TIA lacks clear momentum, implying that any trend—bullish or bearish—does not have significant strength.
The +DI (Blue Line) is at 15.6, while the -DI (Red Line) is at 17.3. The +DI represents bullish pressure, and the -DI represents bearish pressure. Since the -DI is higher than the +DI, it indicates that bearish pressure is slightly dominant at the moment.
Given the weak ADX reading, this suggests that while the bears are in control, their grip on TIA’s price movement is not firm. As a result, TIA’s price is likely to remain range-bound or show minimal movement until stronger momentum develops.
Read more: 10 Best Altcoin Exchanges In 2024
Ichimoku Cloud Also Shows Mixed Signals for Celestia
The Ichimoku Cloud chart for TIA reveals a mixed picture. Currently, the price is sitting close to the cloud, which is an area of uncertainty. When prices are within or near the cloud, it indicates a period of consolidation or indecisiveness in the market.
If the price manages to break above the cloud, it could signal a bullish trend, whereas a break below could indicate a bearish move. The thickness of the cloud ahead also plays a role; a thicker cloud implies stronger resistance or support.
The Tenkan-sen (conversion line) and Kijun-sen (base line) are relatively close, suggesting that momentum is not clearly favoring either side. The future cloud is also mixed, which indicates a lack of a strong directional trend.
Given this, the next move for TIA’s price might depend on its ability to either clear the resistance of the cloud or break support to the downside. Until then, traders should watch for a definitive breakout in either direction to assess the next significant move.
TIA Price Prediction: Is It Possible to Get Back to $6 in October?
The EMA (Exponential Moving Average) lines on the TIA chart indicate mixed momentum for the price. The EMAs are closely aligned, with the shorter EMAs hovering slightly above the longer-term EMAs.
This positioning suggests that TIA is experiencing a phase of limited momentum, where there is neither strong bullish nor bearish dominance. The price staying close to all EMAs indicates consolidation, and it will need a clear move above or below these EMAs for a potential trend to emerge.
Read More: 3 Altcoins to Watch in the Fourth Week of October 2024
Regarding support and resistance zones, TIA has strong resistance levels marked at $6.20 and $6.60. If TIA’s price breaks above $6.20, it could attempt to challenge $6.60.
On the flip side, a break below $5.56 could expose the price to deeper pullbacks towards $5.18 or even $4.89, marking a potential 15% price correction. The current positioning of the price suggests a period of indecisiveness, where breaking key support or resistance will dictate the next movement direction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Will Pepe Coin Price Recover After Recent Downturn?
The price of the Frog-themed Pepe coin (PEPE) has lost 6.50% in the last seven days. This decline could be linked to a major supply wall that has overpowered the underlying support.
Due to this rejection, PEPE’s price is currently trading at $0.0000098. In this on-chain analysis, BeInCrypto explains how this development could mean an extended downturn for the meme coin.
Pepe Faces Huge Supply Wall
According to the In/Out of Money Around Price (IOMAP) data, approximately 5,300 Pepe addresses hold 23.84 trillion tokens, which they accumulated at around $0.0000010. At the accumulation price, these tokens are worth nearly $240 million. It is also important to note that this group is currently holding the meme coin at a loss.
The IOMAP typically classifies addresses into those in profit, at breakeven, or out of the money. When a significant volume of addresses is out of the money at a specific price, it creates resistance at that level.
Conversely, when there’s more volume in the money, it represents a support area. In Pepe’s case, the volume at $0.000010 far exceeds that at $0.0000090, suggesting the token might struggle to break above the $0.000010 resistance.
Read more: How to Buy Pepe (PEPE) With a Credit Card: A Step-by-Step Guide
Another factor suggests a price decrease in the Network Growth. This metric measures the number of new addresses interacting with a cryptocurrency.
When the reading increases, it means that the number of market participants making their first successful transaction has increased. A decrease, on the other hand, indicates that traction on the network has decreased.
If sustained, this decline could translate into less demand for PEPE. In turn, it could become difficult for the price to increase.
PEPE Price Analysis: 28% Decrease Likely
A look at the daily PEPE/USD chart shows that the Moving Average Convergence Divergence (MACD) has dropped to the negative region.
The MACD is a momentum indicator that calculates the difference between two exponential moving averages (EMAs) of an asset’s price, commonly the 12-period EMA and the 26-period EMA.
Traders often use the crossover between the MACD and the signal line to identify potential bullish or bearish momentum. When it is positive, momentum is bullish. On the other hand, a negative reading indicates that the momentum is bearish.
Read more: Pepe (PEPE) Price Prediction 2024/2025/2030
Since it is the latter, this position could further lower the Pepe coin price. Should that remain the case, PEPE’s price might drop by 28% to $0.0000070. However, if buying pressure increases with a volume larger than the one at the $240 million resistance, the price might bounce toward $0.000014.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
ApeCoin Faces Strong Resistance As Bears Seize Control At $1.755
ApeCoin is facing a tough setback as bearish momentum intensifies, with the price hitting a strong resistance at $1.755. After an attempt to push higher, the bulls have lost ground, allowing the bears to take control and halt the upward movement.
Particularly, this key resistance level has emerged as a significant barrier, signaling a potential shift in market dynamics. With pessimistic pressure mounting, ApeCoin’s future direction hangs in the balance, as traders look for signs of whether the bulls can stage a recovery or if the bears will drive prices lower in the coming days.
This article analyzes ApeCoin’s struggle against strong resistance at the $1.755 level, focusing on how the bears have gained control of the market. It explores the factors driving the current bearish strength, examines key support and resistance levels, and assesses the likelihood of further downside pressure or a potential bullish recovery.
Bearish Momentum Builds As ApeCoin Hits Key Resistance
Recently, APE’s price has turned bearish on the 4-hour chart, pulling back towards the $1 mark and the 100-day Simple Moving Average (SMA) after encountering strong resistance at $1.755. This retracement marks a notable shift in momentum, as the bulls failed to maintain their upward push, allowing bears to take control.
An analysis of the 4-hour Relative Strength Index (RSI) reveals a significant decline, with the signal line dropping to 49% from its previous peak of 92%. Typically, a fall below the critical 50% threshold suggests that bears are gaining control of the market, possibly leading to more downside if the RSI continues to trend lower.
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Also, the daily chart for ApeCoin shows increasing negative sentiment, with negative candlesticks and a decline toward the 100-day SMA, reflecting rising selling pressure as ApeCoin struggles to hold higher levels. If bulls don’t defend the current support, additional declines are possible, making the 100-day SMA a critical level to watch for either a potential reversal or continued downward movement.
Finally, on the 1-day chart, the RSI has fallen to 65%, down from its previous position in the overbought zone suggesting that buying pressure has eased and that the market could be entering a period of consolidation or possible pullback.
Support Levels To Watch Amidst Bears’ Control
As bearish momentum strengthens, key support levels become crucial in determining ApeCoin’s next move. The first level to watch is the $1 mark, a psychological and technical support that could help prevent further declines for ApeCoin.
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Meanwhile, if bears push the price below this, the next significant support lies around $0.66. A break below these levels could lay the groundwork for additional losses, as sellers would likely increase pressure.
However, if APE’s bulls manage to stage a recovery at the $1 support level, the price of ApeCoin could begin to rebound toward the $1.755 resistance. A successful breakout above this resistance could pave the way for more upward movement, potentially targeting the $2.1 level and beyond, signaling a stronger bullish resurgence.
Featured image from Adobe Stock, chart from Tradingview.com
Market
Here’s How Ethereum Bulls Can Save ETH Price
Ethereum (ETH) bulls have a big task at hand despite helping the altcoin price rise above $2,700 earlier. This time, the new mission is to prevent ETH from going below $2,400, which is a crucial support level.
In this analysis, BeInCrypto checks if the cryptocurrency will drop below the region or if bulls will successfully defend it.
Ethereum Sees Rising Capital Injection
On October 19, the Chaikin Money Flow on Ethereum’s daily chart dropped to -0.10. Popularly called by its short form, the CMF measures the rate of capital flow in and out of a cryptocurrency.
When the CMF rises, more money flows into the crypto involved. If sustained, this could drive a notable price increase. On the other hand, a negative CMF indicates that money is flowing out and holders are distributing.
At press time, the CMF reading has returned to the positive region. This rise indicates that Ethereum bulls are accumulating the coin. If sustained, this could prevent another price crash like the one experienced some months back.
Read More: How to Buy Ethereum (ETH) and Everything You Need to Know
The Weighted Sentiment is another metric that suggests that ETH’s price could rebound. This metric measures the perception market participants have about a cryptocurrency. When it increases, the broader sentiment is bullish and can lead to increased demand
Conversely, a decrease implies that market participants are cautious about buying the cryptocurrency. In that scenario, it becomes challenging for the price to increase.
According to Santiment, Ethereum’s Weighted Sentiment has bounced off the neutral line to the positive sentiment, suggesting that ETH’s price could see increased demand.
ETH Price Prediction: After the Decline Comes the Bounce
Currently, Ethereum’s price is around $2,556. On the daily chart, ETH has formed an inverse head-and-shoulders pattern, a bearish to bullish technical pattern.
Even though Ethereum’s price has decreased, this pattern suggests that the trend will soon reverse to the upside. If this is the case, Ethereum bulls are likely to defend the $2,457 region.
Read More: Ethereum (ETH) Price Prediction 2024/2025/2030
If validated, then the altcoin might rally toward $2,839. In a highly bullish situation, it could climb as high as $3,010. However, the failure of bulls to defend the underlying support might invalidate this forecast. In that scenario, ETH could decline to $2,116.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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