TIA breaks below $1.74 support, drops 9% as bearish momentum intensifies

TIA has slipped below a key support level of $1.74, marking a significant shift in short-term momentum as bearish pressure intensifies. The token fell over 9% in a single session, reaching $1.66 and breaking through the 50-period Simple Moving Average (SMA) and 9-period Exponential Moving Average (EMA), which now act as resistance levels [1]. This breakdown has raised concerns among traders, who are watching closely for signs of further declines or stabilization.

Technical indicators reinforce the bearish trend. The Relative Strength Index (RSI) on a 5-minute chart is currently at 42.57, below the 50 neutral threshold, and while it briefly entered oversold territory, it did not trigger a meaningful buying response [1]. Meanwhile, the MACD remains below zero, indicating ongoing downward momentum without a strong volume catalyst to suggest a reversal [1].

Volume has spiked during the decline, with red candles dominating the recent 24-hour period, reaching $151 million in trading activity [1]. However, the absence of a volume climax suggests the bearish phase may continue unless buying interest emerges. Traders are now focused on whether the current support level at $1.66 will hold or if the price will drop further to $1.60 or below [1].

The next key resistance levels are at $1.70 and $1.75. A rebound above $1.75 could signal a short-term stabilization, but a sustained move back above $1.85 would be needed to reverse the bearish trend [1]. Analysts remain cautious, emphasizing the importance of watching for any signs of broader market shifts or cross-market correlations that could influence the trajectory of TIA [1].

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Source: [1] Help! I tried heat, I tried the right socket, one size smaller ... (https://www.facebook.com/groups/140****456939612/posts/1639785523383203/)