Celestia Targets $6.9 as Market Confidence Rises: What’s Next for TIA?

• Celestia has exited the descending channel and is focusing on $6.9 as the subsequent resistance.
• The growing social dominance and elevated open curiosity point out rising market confidence in TIA.

Celestia [TIA] has gained notable traction after efficiently breaking out of the descending channel and positioning itself for a possible bullish run.

Buying and selling at $5.97 on the time of writing with a acquire of 4.39%, analysts are watching to see if TIA can preserve this momentum.

Nonetheless, the token now faces a vital take a look at: can it get previous the subsequent main resistance stage at $6.9 and set off a much bigger rally?

TIA descending channel outbreak

The breakout from the descending channel, which has been forming for a number of months, has led to optimism available in the market.

Celestia now faces key resistance at $6.9, which if resolved might result in a protracted rally. An extra breakout might attain $11.9 as the subsequent main value stage.

Nonetheless, if TIA fails to carry above $6.9, it might end in TIA falling again to its earlier consolidation zone. Subsequently, the approaching days will likely be essential as merchants hold an in depth eye on these ranges.

Supply: TradingView

TIA technical evaluation: RSI and MACD

As for the technical indicators, the relative energy index (RSI) stands at 55.19, reflecting a balanced however considerably bullish market.

Nonetheless, it nonetheless stays beneath the overbought threshold, indicating that Celestia has room to maneuver greater with out experiencing exhaustion.

Furthermore, the MACD indicator is on the verge of a bullish crossover, which might push Celestia additional greater. Each indicators counsel that the token has potential to broaden its positive aspects if present traits proceed.

Supply: TradingView

Social dominance and market sentiment

On this planet of cryptocurrency, social sentiment can considerably affect value motion. Just lately, TIA’s social dominance reached 0.049%, displaying that it’s slowly gaining recognition amongst retail traders.

Though this quantity is comparatively modest, a rise in social exercise usually coincides with a surge in retail curiosity, which might subsequently assist additional value progress.

Subsequently, TIA’s rising visibility might strengthen the bullish momentum as extra merchants begin discussing and investing within the token.

Supply: Santiment

Open curiosity and market confidence

Open curiosity for TIA futures at present stands at $317.32 million, marking a rise of 0.66%. This improve means that merchants are gaining confidence within the short-term efficiency of the token.

Increased Open Curiosity typically displays higher dealer participation and might strengthen market momentum. This uptick in curiosity in futures provides one other layer of optimism surrounding the TIA outbreak.

Supply: Coinglass

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In brief, Celestia’s technical setup and growing market curiosity point out that the corporate is effectively positioned for additional positive aspects.

Nonetheless, breaking the USD 6.9 resistance is crucial for the token to take care of its bullish momentum. Ought to TIA efficiently overcome this hurdle, it might goal greater ranges corresponding to $11.9.