Celestia (TIA) Price Surges 1.11% Amid Market Sell-Off: Is a Major Rally Ahead?

Celestia (TIA) Price Analysis: Could TIA’s Next Big Move Lead to Major Profits?

Celestia (TIA) has experienced a price pump of 1.11% in the past 24 hours, reaching a high of $3.29, even as the broader market faces a sell-off that caused the asset to lose 20.20% over the past week. This upward movement in TIA’s price signals a shift in sentiment toward the bulls, as traders look to accumulate ahead of a potential rally.

U.S. Investors Lead Selling, But Other Markets Accumulate

Recent downward pressure on TIA was primarily driven by U.S. investors, as seen in Coinglass exchange netflow data. U.S.-based crypto exchange Coinbase showed a negative flow, with investors offloading $591,200 worth of TIA in the past week. In contrast, traders on other exchanges, including Binance, Kraken, OKX, and Bybit, have been accumulating the asset, purchasing a total of $9.98 million worth of TIA in the same period. This accumulation by global investors could provide the fuel for a potential price rally in the coming days.

Bullish Chart Pattern Suggests Potential for 184% Breakout

TIA is currently trading within a bullish chart formation, specifically the cup and handle pattern, which historically signals a significant price rally. The price is consolidating within the “handle” phase, with a key resistance level at $3.25. A breakout above this resistance could push TIA’s price toward a target of $9.28, marking an 184% potential upside.

Mixed Sentiment in Derivatives Market

While the derivatives market presents a mixed sentiment, data indicates a 1.80% increase in unsettled derivative contracts, totaling $115.84 million. Short contracts saw the most liquidations, with traders losing over $165,000 to the market. This increase in buying activity could suggest further upward movement, though the OI-Weighted Funding Rate remains negative, indicating that sellers still dominate the market. A positive shift in this metric would confirm the bullish rally and pave the way for a breakout to $9.28.

The ongoing accumulation of TIA on global exchanges and the bullish chart setup suggests the potential for significant gains, although broader market conditions will continue to play a role in determining the asset’s future trajectory.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.