Celestia (TIA) price tumbled over 5% on Monday after pressured trading hurt the coin's trajectory. However, market participants now wonder if the current opportunity is a "buy the dip" moment before TIA surges further in the coming weeks.
TIA Weekly Fall Indicates Extended Slump
The price of Celestia has been declining daily for the past week and has broken below the previous $8 critical support level. At press time, the coin was trading at $5.81, down 11.78% compared to last day.
However, questions now arise about whether the price will break below the critical support level of $5 in the coming days or if it will finally pick up trading. If purchasers are unable to recover from current woes, a bearish scenario would result in the price falling below the $5 mark.
Meanwhile, if the price recovers from the demand zone and breaks out of the channel, the price will reverse, which could result in an extension of a bullish trajectory in the upcoming months.
Currently, investors are closely monitoring two key price levels that could significantly impact TIA's future trajectory: $5, the key support level, and $8, the resistance level.
Will TIA See Bullish Trajectory in the Future?
As of July 31, the price of Celestia is expected to increase by 225.37% to reach $19.15, based on the current price estimate. But this price is only possible if it breaks the $8 resistance mark. Other technical indicators indicate that the current Fear & Greed Index reading is 53 (Neutral), suggesting a Bearish attitude.
Over the previous 30 days, Celestia has had 11/30 (37%) green days and 21.82% price volatility. Data also shows an overall bearish feeling for Celestia's price prediction, with five technical analysis indicators indicating bullish signs and 21 indicating bearish signals.
In the coming month, Celestia's 200-day SMA will have dropped during the previous month, reaching a value of $12.72. Simultaneously, Celestia's short-term 50-day SMA is predicted to reach $ 9.81.
The momentum oscillator, known as the Relative Strength Index (RSI), is a widely used indicator that indicates when a cryptocurrency is overbought (above 70) or oversold (below 30). The coin's RSI value right now is 34.64, indicating a neutral position for the TIA market.
