Celestia (TIA) has captured investor attention with a 50% surge, setting its sights on a potential target of $12.08. Bolstered by strong technical indicators and increasing social media buzz, TIA’s bullish trend appears poised to continue, making it a standout in the lead-up to altcoin season.
A Breakout Performance for Celestia
Celestia has been on a remarkable journey, fueled by the release of over $1 billion worth of tokens during its consolidation phase following the October 30 token unlock. Despite a slight dip during this period, TIA rebounded strongly, climbing past its critical $7.34 resistance level and aiming for the $12.08 target, which represents a 57.91% potential gain from current prices.
Strong Market Activity Signals Confidence
TIA’s price recently stabilized around $7.65 after hitting a daily high of $8.4091 and a low of $7.5129. A 10% increase in daily trading volume, bringing it to $1.41 billion, underscores growing investor confidence. This robust activity lays a solid foundation for Celestia’s continued upward momentum.
Technical Indicators Support the Bullish Case
From a technical perspective, Celestia is showing signs of strength. Trading above its 50-day and 200-day Exponential Moving Averages, TIA confirms its bullish trajectory. The Chaikin Money Flow (CMF) indicator has surged from 0.10 to 0.27 within five days, highlighting increased capital inflow into the ecosystem.
Social data also backs this momentum, with Santiment reporting that Celestia’s social dominance doubled in the past 24 hours, rising from 0.137% to 0.281%. This indicates heightened market interest and optimism, often correlating with positive price action.
On-Chain Data Reflects Growing Market Trust
On-chain metrics reveal strong support for TIA in the derivatives market. As of November 24, Celestia experienced $1.19 million in liquidations, with $605,000 coming from short positions, demonstrating a shift in market sentiment toward buyers. Additionally, open interest in TIA’s futures market surged by 35% to $386.17 million, indicating growing confidence in its potential rally.
Can Celestia Sustain Its Momentum?
Breaking the $7.34 resistance has strengthened Celestia’s bullish outlook, with the $12.08 target within reach if the current trend persists. While this represents a 57.91% upside, broader market performance, particularly Bitcoin’s trajectory, will likely play a decisive role in determining whether TIA maintains its upward momentum.
Stay tuned to Turkish NY Radio for updates on Celestia’s progress and insights into the evolving crypto market.
