Celestia, also known as TIA, has recently experienced significant price fluctuations, including a sharp 20% decline on June 7. This drop caused the price to exit the 4-hour Ichimoku Cloud, breaking through both the 100 and 200 EMA lines. In this analysis, we will delve into the critical support and resistance levels on both the 4-hour and 1-hour charts to provide insights into potential future price actions.
On the 4-hour chart, the $8.00 mark stands out as a crucial support level for TIA, supported by significant trading volume indicating strong buyer interest. The volume profile highlights trading activity at this price, suggesting a solid base for potential upward movements. Additionally, the $9.00 level acts as both a support and resistance zone, with buyers stepping in when the price drops to this level and sellers taking profit when the price rises to this level. On the resistance side, $9.44 and $9.94 are formidable resistance points with substantial trading activity.
Moving to the 1-hour chart, the price has struggled to break above the Ichimoku Cloud, indicating significant resistance levels. Support levels at $8.69 and $8.00 remain crucial, while resistance levels at $9.44 and $9.94 present obstacles for upward movements. The 4H-RSI falling below 30 and recovering to 38 suggests a potential shift in sentiment as the price is considered oversold.
Strategically, buyers may consider purchasing in the $8.90 to $9.00 range, given the current technical indicators and market conditions. Monitoring key support and resistance levels closely will be essential to anticipate TIA’s next significant price movement. Breaking above the Ichimoku Cloud could signal a bullish trend, leading to a potential surge towards the 100 EMA on the 1-hour chart. The 200 EMA on the hourly chart also poses as a crucial resistance level to watch out for.
In conclusion, it is important to note that the information provided in this analysis is for informational purposes only and should not be considered financial or investment advice. Market conditions are subject to change, so conducting your own research and consulting with a professional before making any financial decisions is always recommended. Stay informed on the latest developments in the market and closely monitor TIA’s price movements for potential trading opportunities.
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