Celestia TIA surges 15% in 24 hours breaking key resistance

Celestia (TIA) has recently experienced a significant price surge, with the token jumping over 15% in a single day. This movement broke out of a rounded bottom pattern on the 1-hour chart, reaching a high of $1.573 after breaking above the neckline at approximately $1.44. The increased volume during this surge suggests a potential shift in the Cosmos ecosystem, where liquidity often rotates between various tokens.

Analysts have offered differing perspectives on this price movement. Emilio Crypto Bojan sees potential for further upside, attributing the surge to a broader shift within the Cosmos ecosystem. He notes that the price is holding above $1.56, just below key resistance levels at $1.60 and $1.70. If the momentum continues, traders might anticipate a push into the $1.80 range. However, if the price falters, key support levels to watch include $1.44 and $1.36.

In contrast, King Crypto has cautioned against chasing short-term pumps without considering the broader market context. He highlighted that while TIA gained 15% in 24 hours, it has lost nearly 85% of its value since its December 2023 high of around $9.00. The long-term trend remains bearish, with the price consistently below the 50-day moving average, which has acted as resistance since early spring.

The immediate resistance for TIA lies at $2.05, coinciding with the 50-day moving average. Breaking above this level could signal a trend reversal. Another key resistance zone is between $2.50 and $2.70, which previously acted as support. On the downside, support between $1.40 and $1.50 is a short-term level to monitor. A breakdown from this range could send the price back toward $1.00.

While short-term traders may find opportunities in the breakout, analysts remain divided. Some focus on structural formations, while others emphasize the macro context. The current momentum, coupled with broader resistance, reflects a market seeking confirmation. The TIA chart indicates a potential for further gains, but the overall trend remains bearish, suggesting caution for long-term investors.