Celestia (TIA) price saw volatile trading after being in the red and green zone constantly. At the press time, the coin is trading at $7.23, down 3.21% according to data from CoinMarketCap. However, with some technical indicators pointing at a future price rise, investors are wondering if the coin can hit another all-time high in the future.
TIA All Time High Any Time Soon?
With technical indicators pointing to a rebound and the present bullish momentum in the larger crypto market, Celestia (TIA) is aiming for the $10 target in the medium term. The coming weeks will be full of optimism as Bitcoin aspires to reach $70K and the cryptocurrency market aims to reach a $3 trillion market size by 2024. Riding on this optimism, Celestia is expected to see a sharp increase in price in the next few days due to a trend reversal rally. The altcoin wants to retake the $10 psychological barrier after two encouraging weeks.
The previous news of a partnership with o1Labs, TIA saw an upbeat investor sentiment that had kept its price up in the previous weeks. With the help of o1Labs and led by Geometry Research, Celestia has formed a relationship with Mina Protocol to support Mina’s zkApps in handling massive amounts of off-chain data.
US Political Drama Keeps Crypto World Upbeat
The unexpected decision by President Joe Biden to not run for reelection has increased conjecture that a candidate who is fond of cryptocurrencies, such as Donald Trump, would seize the chance to win the presidency in the upcoming election. This news has pushed most cryptocurrencies out of their comfort zones to see a bull momentum.
Given that such bullish cues are likely to persist in the coming future, the price of TIA will rise in the future.
What Do Technical Indicators Say About TIA?
Market estimates for the price of Celestia are that it will increase by 229.79% by August 21, 2024, to reach $ 24.27. According to technical indicators, the Fear & Greed Index is currently reading 70 (Greed), indicating a neutral mindset for the coin.
Over the previous 30 days, Celestia has had 12/30 (40%) green days and 8.49% price volatility. The overall mood regarding Celestia’s price projection is neutral, with 17 technical analysis indicators indicating bullish signs and 6 indicating bearish indications.
However, as per predictions, next month, Celestia’s 200-day SMA will decline to reach $11.42. During the same course of time, Celestia’s short-term 50-day SMA is predicted to reach $11.28. 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 TIA market is neutral at the moment, as indicated by the RSI figure of 58.23.
