The cryptocurrency industry has displayed a bullish reversal as the top crypto tokens have added over 5% in their respective portfolios within the past few hours. Furthermore, the price of Bitcoin has successfully crossed the $64K mark, indicating a positive outlook for the market this week.
The Celestia price has recorded a significant jump of over 18% in valuation within the past 24 hours, highlighting a strong bullish sentiment in the crypto space. Moreover, it has added approximately 3% over the past 30 days. Is it the right time to buy TIA tokens as the market has started consolidating.
The TIA token started the year 2024 with a price tag of $11.90. The altcoin traded under a significant bullish sentiment for the first two months, resulting in the Celestia token recording a new all-time high (ATH) of $20.91 on 10th February, a jump of 75.71% in valuation.
However, after recording the high, the bulls lost momentum and traded under a strong negative influence. This resulted in the Celestia token erasing approximately 50% of its gains. Currently, the price is trading in a closed range between $8.90 and $11.55, and is on the verge of testing its upper level, the outcome of which is unpredictable.
The Relative Strength Index (RSI) displays a rising pattern, suggesting increased buying-over-selling pressure for the altcoin in the market. However, the average shows a flatline, indicating a mixed sentiment in the crypto space.
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If the market pushes the price above the resistance level of $11.55, the bulls will regain momentum and test its upper resistance level of $15. Maintaining the price at that level will set the stage for the TIA price to attempt to test its upper level of $18.50 during the coming time.
Conversely, if the bulls fail to regain momentum, the price will fall to test its support level of $8.90 by the coming week. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $7 this month.
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