- TIA consolidates within a symmetrical triangle, signaling an imminent breakout with strong resistance at the upper trendline.
- The weekly chart shows that TIA tests a key $2.60–$3.60 support zone, which is crucial for potential rebounds or further downside risk.
- A breakout above resistance could signal an uptrend, while a breakdown may extend the prevailing bearish sentiment.
Celestia’s native token, TIA, is nearing a critical breakout point, crypto analyst Ali shows. Currently trading at $3.6227, the asset is consolidating within a symmetrical triangle on the 1-hour Binance chart. This pattern suggests an imminent sharp price movement.
Symmetrical Triangle Signals Imminent Move
The TIA/USDT pair also witnessed a recent sharp decline, having a 9.71% decline. The decline was a -0.3681 USDT drop, preceding consolidation. The price thereby began fluctuating in a symmetrical triangle formed by lower highs and higher lows. This is indicative of decreased market volatility and a price compression.
During this consolidation, multiple tests of the support and resistance trendlines confirmed the triangle’s structure. Recently, a bullish candlestick pushed the price towards the resistance line. This movement resulted in a 1.53% increase, suggesting strong buying pressure. However, resistance at the upper trendline remains firm.
Though the volume data isn’t displayed, the sharp price movement indicates increased market activity. The triangle’s apex suggests a breakout is imminent. The breakout’s direction is yet unknown. The price may indicate an upward continuation if it breaks through the resistance. On the other hand, a decline below support can start a downward trend.
Weekly Chart Highlights Critical Support Zone
On the weekly time frame, according to Satoshi TIA’s price action is showing a consistent downtrend in a declining channel. The price has been steadily declining from its peak, forming lower highs and lower lows. The asset is now trading near the top of a very significant support zone, between $2.60 and $3.60.
In the past, this support zone has served as a demand area, offering the possibility of price increases. Recent candlestick patterns suggest that the market is stabilizing as there is less downward momentum. Nonetheless, the price stays inside the downward channel, indicating the general pessimistic attitude.
A possible long-term aim is indicated by an overhead resistance zone close to $21. To confirm an uptrend, though, the price must first break through the top boundary of the falling channel. The price dropped 9.04% in the most recent weekly session, to a low of $2.629.
