Market
Celestia (TIA) Maintains Bullish Momentum
TIA is exhibiting strong bullish momentum, finding support at key technical levels despite facing resistance from the daily Ichimoku Cloud.
Let’s closely examine the price action of TIA, one of the top-performing cryptocurrencies over the past several months.
TIA Experiences Rejection by Daily Ichimoku Cloud
The price of Celestia (TIA) is showing rejection from the upper boundary of the daily Ichimoku Cloud.
The Ichimoku Cloud is acting as resistance, with the price struggling to break above it. Additionally, the 100 EMA (Blue line) at $12.03 is serving as a mid-term resistance level.
The price is currently hovering around $10.73, indicating it is struggling to break both the Ichimoku Cloud and the 200 EMA (in Green).
The current price level of $10.73 is below the 100 EMA, suggesting resistance at $12.03. A successful breakout above the 100 EMA could lead to the price testing the 200 EMA and potentially moving above the Ichimoku Cloud, signaling a bullish momentum.
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The price of TIA has recovered 46% from its local low of $7.30 set in mid-April, showcasing strong bullish momentum.
Despite the recovery, the price is struggling to break through the Ichimoku Cloud and the 4-hour 200 EMA, indicating significant resistance at these levels.
Support and Resistance Zones Highlighted by Volume Profile
The chart’s volume profile on the right side represents the trading volume at various price levels over a given period.
The areas around $10.50 and $12.00 show higher trading volumes. This suggests these levels are critical points where buyers and sellers have been most active, providing strong support and resistance.
The gaps or lighter areas in the volume profile indicate less trading activity, which, due to lower liquidity, often leads to faster price movements through these levels.
Volume Profile Shows TIA Approaching Low Liquidity Zone
The 4-hour chart indicates a bullish sentiment in the mid-term, with the price finding strong support at the lower boundary of the 4H Ichimoku Cloud.
TIA is currently heading towards the upper boundary of the 4H cloud. However, significant resistance levels are expected at the daily EMA lines depicted in the 1-day chart.
The 4-hour chart indicates a bullish sentiment in the mid-term, with the price finding strong support at the lower boundary of the cloud.
The 4H EMAs are anchored at the lower boundary of the Ichimoku Cloud, providing crucial support levels. It could signal an imminent price drop if the price breaks below these EMAs. Traders should place stop losses wisely below these levels, considering their leverage to manage risk effectively
Volume Profile Indicates TIA Nearing Low Liquidity Zone
The uncolored areas in the volume profile indicate regions with high trading volume. These are critical levels where significant buying and selling have occurred, making them strong support and resistance zones.
$10.40 – $10.60: This range has witnessed substantial trading activity, suggesting it is a significant support zone. The price recently rebounded from this area, reinforcing its importance.
$11.00 – $11.20: Another high volume area that the price is currently approaching. This zone is likely to act as a formidable resistance level.
The price is approaching a critical zone that could be easily broken due to its low liquidity. The $10.90 to $11.00 range is a crucial area to monitor.
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A breakout from this zone is likely to propel the price towards exiting the 4-hour Ichimoku Cloud or at least testing its upper boundary.
Strategic Recommendations
The price of Celestia (TIA) faces rejection from the upper boundary of the daily Ichimoku Cloud, indicating resistance. If Bitcoin reaches an all-time high in the mid-term, the upward movement is expected to continue rising to $11.50.
The 100 EMA at $12.03 is also serving as a mid-term resistance level.
The 4-hour chart indicates a bullish sentiment in the mid-term, with the price finding strong support at the lower boundary of the 4-hour Ichimoku Cloud and the 4-hour EMAs.
TIA is heading towards the cloud’s upper boundary, but significant resistance is expected at the daily EMA lines.
Consider placing stop losses just below the 4H EMAs to manage risk effectively. This is particularly important if the price breaks below these EMAs, as it could signal an imminent price drop.
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
Ripple (XRP) Price Hits 109% Monthly Gain as Indicators Weaken
Ripple (XRP) price has experienced a significant rally, rising 51.33% in the last seven days and an impressive 109.09% over the past month. This strong momentum has propelled XRP into a bullish phase, with key indicators like EMA lines supporting its upward trajectory.
However, signs of weakening momentum, such as a declining RSI and negative CMF, suggest that caution may be warranted. Whether XRP continues to push higher or faces a steep correction will depend on how the market reacts to these shifting dynamics.
XRP RSI Is Below The Overbought Zone
XRP’s RSI has dropped to 60 after nearly hitting 90 on November 16 and staying above 70 between November 15 and November 17.
This decline indicates that Ripple has moved out of the overbought zone, where intense buying pressure previously drove its price higher. The drop suggests that the market is cooling off, with traders potentially taking profits after the strong rally.
The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 60, XRP’s RSI reflects a still-positive momentum but shows a more balanced sentiment compared to the previous surge.
While the uptrend remains intact, the lower RSI could indicate a slower pace of gains, with the possibility of consolidation as the market stabilizes. If buying pressure returns, XRP price could extend its upward movement, but a further decline in RSI might signal a weakening bullish momentum.
Ripple CMF Is Now Negative After Staying Positive For 14 Days
XRP Chaikin Money Flow (CMF) is currently at -0.12, after showing positive levels between November 5 and November 19. That is also its lowest level since October 31. This shift into negative territory reflects increased selling pressure and a potential outflow of capital from the asset.
The transition from positive CMF values earlier this month signals a weakening in bullish momentum as more market participants reduce exposure to Ripple.
The CMF measures the volume and flow of money into or out of an asset, with positive values indicating capital inflow (bullish) and negative values showing capital outflow (bearish).
XRP’s CMF at -0.12 suggests that bearish sentiment is beginning to gain traction, potentially putting pressure on its price despite the recent uptrend. If the CMF remains negative or declines further, it could indicate sustained selling pressure, challenging Ripple’s ability to continue its upward movement.
Ripple Price Prediction: Biggest Price Since 2021?
XRP’s EMA lines currently display a bullish setup, with short-term lines positioned above the long-term lines and the price trading above all of them.
However, the narrowing distance between the price and some of these lines suggests a potential slowdown in bullish momentum. This could signal that the uptrend is weakening, leaving XRP price vulnerable to a shift in market sentiment.
If a downtrend emerges, as indicated by the weakening RSI and negative CMF, Ripple price could face significant pressure and potentially drop to its support at $0.49, representing a substantial 56% correction.
On the other hand, if the uptrend regains strength, XRP could climb to test the $1.27 level and potentially break through to $1.30, which would mark its highest price since May 2021.
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
Trump Media Files Trademark for Crypto Platform TruthFi
Trump Media & Technology Group is exploring the development of a crypto payment platform, as revealed by a recent trademark filing.
The application, submitted by Donald Trump’s social media company on Monday, outlines plans for a service named TruthFi. The proposed platform aims to offer crypto payments, financial custody, and digital asset trading.
Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, up by nearly 75% this year.
However, details about TruthFi remain scarce, including its timeline or operational specifics. This initiative suggests an effort by Trump Media to expand its business model beyond Truth Social.
The social media platform was established back in 2022, after Trump was banned from Facebook and X (formerly Twitter).
Nevertheless, launching a large-scale cryptocurrency platform could require Trump Media to acquire additional resources or partner with an established firm. This is because the firm currently has a small workforce of less than 40 employees.
“The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer: Digital wallets, Cryptocurrency payment processing services, and A digital asset trading platform,” US Trademark Attorney Josh Gerben wrote on X (formerly Twitter).
As reported by BeInCrypto earlier, Trump Media is also in discussions to purchase the b2b crypto trading platform Bakkt. Shares in Bakkt surged by nearly 140% since the news earlier this week.
Meanwhile, the President-elect’s crypto plans seem to be in full swing even before he takes office in January. He is also reportedly considering the first-ever crypto advisor role for the White House, and interviewing several potential candidates.
Earlier today, the current SEC chair Gary Gensler announced his resignation before Trump’s term begins. Gensler’s resignation boosted the crypto market, as it signals a major change in the SEC’s regulatory stance.
Notably, XRP surged 7% to its highest value in three years. Bitcoin also neared $99,000, as the overall crypto market cap reached $3.4 trillion.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Market
Banana Gun Rises After Justin Sun’s $6.2 Million Art Purchase
Justin Sun, founder of TRON and Poloniex CEO, has purchased the viral art piece Comedian—a banana duct-taped to a wall—for $6.2 million at Sotheby’s.
Following the purchase, Sun announced on X (formerly Twitter) that he plans to eat the artwork. This has ignited a frenzy of memes, commentary, and market reactions, even causing the crypto token Banana Gun to spike in value.
Crypto Reacts: Banana Gun on the Rise
Maurizio Cattelan’s Comedian gained international fame in 2019 when it was first displayed at Art Basel Miami. Its simplicity and absurdity—a banana taped to a wall—sparked debates about the nature of art. The so-called artwork became viral when performance artist David Datuna ate it in a stunt dubbed Hungry Artist.
Sun’s pledge to eat the $6.2 million fruit has also drawn parallels, adding another layer of humor to the piece’s history. The Tron founder even said he’s willing to donate the banana to Elon Musk and send it to Mars.
Meanwhile, several users even recreated their own version of Comedian and shared it on social media. One fan followed up by taping bananas around the Massachusetts Institute of Technology (MIT) campus, encouraging others to “tape all over the world” and start a movement.
What they are campaigning for, precisely, remains to be seen.
“In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture. Stay tuned,” Sun said on X.
The ripple effects of Sun’s purchase eventually trickled beyond the confines of art and humor and into crypto markets. The token Banana Gun, which shares its name with the theme, surged nearly 16% following the news. Traders and enthusiasts, ever attuned to cultural moments, appear to have seized the chance to capitalize on the buzz.
Sun’s acquisition and the banana’s virality bring to mind another recent development in the art-crypto nexus. Earlier this week, Ethereum co-founder Vitalik Buterin allegedly minted 400 Patron NFTs. This development sparked hopes of a resurgence for the NFT market.
This aged well…. $BANANA is an insane project. For me, this is in the same league as $ZIG. Fundamentals are truly insane. No matter which narrative will cook next, $BANANA will profit from it,” said one trader on X.
The combination of Sun’s high-profile purchase and the market’s reaction to Banana Gun demonstrates how art, humor, and technology continue to blur boundaries. Whether Sun’s banana-eating spectacle will leave a lasting impact or peel away (pun intended) into meme history, one thing is certain—the intersection of crypto and culture remains as unexpected as ever.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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