Celestia TIA Plummets 6.3% After Failed $2.16 Breakout Triggering Profit-Taking Sell-off

Celestia’s (TIA) native token has faced a sharp decline following a failed attempt to break through a key resistance level of $2.16. As of the latest data, the price has dropped to $1.65, representing a 6.3% daily loss and a weekly loss exceeding 9%. The token’s market capitalization now sits just above $1.2 billion, placing it at the 70th position among cryptocurrencies by market cap [1]. Analyst Michaël van de Poppe noted that the rejection at $2.16 reflects a typical profit-taking event, where traders took gains after a recent upward move, leaving TIA in a weakened position with limited buying interest [1].

Van de Poppe outlined two possible near-term scenarios for TIA. One suggests the price could form a higher low, setting up another attempt to test the $2.16 resistance level. The second scenario involves a potential double bottom pattern, which may indicate a stronger accumulation phase and a possible rebound if buyer interest and volume increase [1]. The analyst emphasized that TIA could still be in the early stages of an accumulation phase, with key support levels likely to be tested before any meaningful recovery occurs. He added that altcoins such as TIA are expected to perform better once broader market conditions stabilize [1].

The current bearish trend shows no signs of immediate reversal, with the token remaining under pressure in a consolidation phase. Market participants are closely monitoring whether TIA can maintain its position above recent lows or face another retest of weaker support levels. In the absence of a decisive breakout or a shift in investor sentiment, the outlook for TIA remains cautious, with continued volatility expected [1].

Source: [1] Celestia (TIA) Price Under Pressure After Rejection at Key Resistance https://coindoo.com/market/celestia-tia-price-under-pressure-after-rejection-at-key-resistance/