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.
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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.
From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.
In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.
Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.
Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.
At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.
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Ethereum price failed to climb above the $3,520 zone and corrected gains. ETH is now showing bearish signs below the $3,400 support zone.
- Ethereum started a downside correction after it failed to surpass the $3,520 zone.
- The price is trading below $3,400 and the 100-hourly Simple Moving Average.
- There is a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is now at risk of more downsides below the $3,350 support zone.
Ethereum Price Dips Again
Ethereum price failed to continue higher above the $3,520 and $3,550 resistance levels. ETH formed a top near $3,520 and started a fresh decline like Bitcoin. There was a move below the $3,450 and $3,420 support levels.
The bears pushed the price below the 50% Fib retracement level of the upward wave from the $3,351 swing low to the $3,516 high. It seems like the price trimmed most gains and might continue to move down below the $3,350 support zone.
Ethereum is trading below $3,400 and the 100-hourly Simple Moving Average. It is also below the 76.4% Fib retracement level of the upward wave from the $3,351 swing low to the $3,516 high.
If there is a recovery wave, the price might face resistance near the $3,400 level. There is also a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD. The first major resistance is near the $3,435 level.
The next major hurdle is near the $3,465 level. A close above the $3,465 level might send Ether toward the $3,520 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher. Any more gains could send Ether toward the $3,650 resistance zone.
More Losses In ETH?
If Ethereum fails to clear the $3,410 resistance, it could continue to move down. Initial support on the downside is near $3,365. The first major support sits near the $3,350 zone.
A clear move below the $3,350 support might push the price toward $3,250. Any more losses might send the price toward the $3,120 level in the near term.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is now below the 50 zone.
Major Support Level – $3,350
Major Resistance Level – $3,435
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