Is It Too Late To Buy TIA? Celestia Price Surges 17% After $100 Million Raise And This Might Be The Next Crypto To Explode
The Celestia price surged 17% in the last 24 hours to trade at $6.4184 as of 00:21 a.m. EST on trading volume that skyrocketed 128% to $338 million.
This comes after Celestia Foundation announced that it had raised $100 million in an investment round. After this large-scale investment led by Bain Capital Crypto, TIA, the native token of Celestia, rose to a monthly high of $6.42.
The core developers are focused on implementing the recently unveiled roadmap.
Celestia Price Set For A Bullish Trend Continuation
The Celestia Price went on a downtrend from August 24 to September 9, trading from the $6.18 resistance to the support around $3.9, according to data from GeckoTerminal .
This support then allowed the bulls to take control of the price, as the price of Celestia soared back to the resistance zone, forming a rounding bottom pattern.
TIA then invalidated the bullish prospects of the pattern, as it dropped back to the $5.2 support and back to the resistance, completing a cup and handle pattern.
The Celestia price bulls aim to capitalize on the pattern to push the price even further, as TIA now trades above both the 50-day and 200-day Simple Moving Averages (SMAs).
Moreover, the Relative Strength Index (RSI) is currently rebounding from below the 50-midline level as it soars up, currently at 64 and still soaring, which is an indication that the asset is under intense buying pressure.
The bullish trend is also affirmed by the Moving Average Convergence Divergence (MACD), which is moving above the neutral line.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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