- Celestia price sits atop the $12.93 support level, hinting at a 15% rally to $15.
- The gains could extend to 38% as TIA could tag $17.37 as it flips the $15 level.
- A daily candlestick close below $10.94 will invalidate the bullish thesis.
Celestia (TIA) price currently sits at a key barrier of $12.93. Hence, the next move could make or break the altcoin. Investors should note that a breakdown of this support structure could trigger a steep correction.
Read more: Grayscale BTC ETF filing keeps important details unrevealed a week before approval
Celestia price needs a push to the upside
Celestia price has been trading inside the $10.94 to $14.92 range for more than two weeks. As TIA trades around this range’s midpoint of $12.93, one of two scenarios will occur – a bounce that leads to an exponential rally or a pullback that leads to steep correction.
Currently, the Relative Strength Index (RSI) sits at the midpoint, which shows that there is a possibility of a bounce. The Awesome Oscillator (AO) also slides down toward the zero mean level.
A bounce here could send Celestia price to tag the range high of $14.92 or roughly $15.00. A flip of this barrier into a support level could send TIA to the 161.8% Fibonacci Retracement level of $17.37.
This move would constitute a 38% gain from the current level of $13.00.
TIA/USDT 4-hour chart
On the other hand, if Celestia price gets rejected at $12.93, it could trigger a correction to the range low of $10.94. A daily candlestick close below $10.94 will produce a lower low and invalidate the bullish thesis.
In such a case, Celestia price could crash 13% and tag the key support level of $9.52.
Also read: Cardano price sets up buying opportunity for ADA to rally 35%
(This story was corrected on January 3 at 15:48 GMT to say that a daily close below $10.94 will invalidate the bullish thesis, not below $19.94.)
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