TIA Price Witnesses Breakout After Huge Correction: What Next?

Celestia’s (TIA) price has been in a correction phase of 70%, and sellers have dominated this year. After a huge correction, the price has triggered a breakout from the descending trendline. It has smashed the 20-day EMA and is heading toward the 200-day EMA.

The TIA price has declined by facing resistance from a descending trendline and has remained below the 200-day exponential moving average (EMA). Based on the technical chart, the bearish trend seems to be halted near the $4 mark. Let’s see how it performs after the breakout.

Is Buying Signal Generated in TIA Price?

GalaxyTrading (@GalaxyTrading_) is a cryptocurrency analyst who has claimed that the TIA price has the potential to shoot up soon. The TIA price has formed a triple-bottom pattern, and pushes are coming from the buyers’ side.

The technical chart suggested buyers have bounced back and exceeded the 20-day EMA. The TIA crypto price has closed over the 25-day EMA and flipped to a support level. Once the price triggers bullish momentum, it is expected to extend to the $15 mark.

Can We See a Reversal in TIA Price After This Breakout?

When writing, the Celestia crypto traded at $6.29, dipping by 5.31% in the past 24 hours. The market capitalization was $1.33 Billion, and the 24-hour trading volume was $339.64 Million. The trading volume has displayed good growth, which could help attract buyers.

The technical chart showed that the Celestia crypto price has a breakout from the trendline. The trading volume increased during the breakout, which enhanced the breakout strength.

Once the digital asset price stabilizes over the trendline, it could be a buying signal. If the TIA price surpasses the 200-day EMA, buying momentum for a longer period. Suppose the chart structure manages to invite investors; it may recover this year’s losses in a few months.

On the other hand, if the TIA price drops below the trendline, buyers might be trapped on the breakout. The recent trend was bearish, and sellers were strong; the price below the trendline could witness a bearish pullback. It may lose around 30% on a negative pullback in a few days.

Turning to the technical indicator, the MACD has witnessed a golden crossover with the Signal line. The MACD has traveled to the positive territory, and the histograms have turned green. After a bullish crossover in RSI, it has extended to the overbought zone.

TIA Price Analysis Based on Technical Chart

Based on the recent breakout in TIA price, it seems that the cryptocurrency is showing signs of potential reversal. The surge in trading volume and the breakout from the descending trendline indicated a shift in momentum.

If the price sustains above the trendline and surpasses the 200-day EMA, it could signal a longer-term buying opportunity. The positive crossovers in MACD and RSI indicate strengthening bullish momentum.