Amid Collab With Plume, Analyst Signal Growth, Can TIA Rise 3x?

• 1 The 24-hour Volume-to-market cap ratio at 8.07% indicates low liquidity.
• 2 TIA dipped 41% this month, while trading volume plunged 25.1% in the past 24 hours, highlighting a strong sellers’ grip.
• 3 According to an analyst, if TIA crypto breaks out, it could gain 3x.

TIA has been in a downward trend since early February, consistently marking new lower highs and lower lows. Notably, the price fell beneath the critical $8 support level. 

However, mid-May, there was a brief rally where TIA found support at $8 and rebounded to the 200-day EMA, indicating a temporary bullish shift. Despite this, the price encountered resistance and was unable to sustain above the 200-day EMA, succumbing to the selling pressure.

From a technical standpoint, TIA is below the pivotal moving average. The MACD indicator has shown a ‘death cross’ as it crossed below the signal line, accompanied by a bearish red histogram at -0.297 and RSI at 30.89 oversold reached.

Celestia (TIA) Price chart 1.D. | Source: TradingView

Collectively, these technical indicators suggest that the market sentiment is leaning toward uncertainty or towards a continued bearish phase for TIA.

Is Integration WIth Plume Optimistic for Celestia (TIA)?

The Plume Network recently announced that its unified integration with the Celestia blockchain network is a frontrunner in modular data availability (DA). This would enable the network to reduce expenses and scale effectively as a layer2 solution, whose focus would be entirely on real-world assets (RWAs). 

Meanwhile, this strategic alliance is set to facilitate and streamline the inclusion of more projects and investors into Plume’s ecosystem that is dedicated to RWA tokenization.

Similarly, for TIA, this development looks particularly advantageous. This integration suggests more robust possibilities for participation in its RWA tokenization process. Plume could potentially drive up the price of TIA.

Furthermore, this move could also be seen as one of the possible harbingers for its growth in the future aspects of Celestia (TIA) crypto. This could assist in expanding the landscape of blockchain technology.

Are Analysts Positive on Celestia TIA Post Extended Decline?

According to @scott milker on X, the pressure could be strong at the closest support and highlights a potential for a resurgence by the shared chart drawing of his.

Furthermore, another analyst highlighted that TIA has been declining through a parallel channel, and it is in the demand zone, where buyers could step in abruptly. 

Therefore, if the price reversal happens from the demand zone, it could trigger a breakout from the channel. The price may extend to the $21 mark, and an easy peasy 3x could be achieved in the next few months.

Celestia (TIA) Price Analysis Over Daily Timeframe

At press time, TIA was trading at $6.55 with an intraday gain of 2.71%. On analyzing the daily chart, the TIA has been in a bearish trend, and sellers may eye the $5 support, as sellers look strong, but only if they manage to pass below $6 support.

On the contrary, if TIA bounces back and exceeds $8, the buyers may step in abruptly and could achieve targets like the $12 and $15 marks.

Summary

TIA’s market performance has been bearish, with its price descending beneath crucial support thresholds. The prevailing technical indicators are giving a pessimistic outlook. 

Nonetheless, there’s a glimmer of hope for a trend reversal, especially if TIA manages to recover from the demand zone and breaks out of the channel, which could potentially propel the price toward the $20 level in the ensuing months.

Technically, if the price struggles to rally and persist below the $8 threshold on the daily chart, it might plummet to the $5 support zone. The current chart pattern indicates that TIA is likely to encounter resistance at the $12.00 and $15.00 levels, while support could be found at the $5.00 and $2.25 price points.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.