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TIA’s price unable to breach $20.4 – So, why are predictions bullish?

Press Releases Crypto News AMB-Crypto TIA’s price unable to breach $20.4 – So, why are predictions bullish?

Celestia’s price action suggested that a range formation was reasonable.
The uptick in Open Interest was not backed up by spot buying.

Celestia [TIA] buyers have been happy over the past week. The price action of the token saw gains of 20% recorded in the past five days, and the market structure had flipped bullishly as well.

At press time, the chances of a range formation were good. Though buying pressure was not yet strong enough to breach the $20.4 resistance zone, could this change in the coming days?

Defending the idea of a range

The $13.87-$20.4 region was demarcated using the purple channel to indicate a possible range formation. The range highs have not been tested a second time, and a rejection from there would solidify this idea.

But even before waiting for the range high retest, the reaction of the price from the mid-range mark (dashed white) at $16.84 could provide a hint.

The past two weeks saw this level serve as both support and resistance.

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Author: Akashnath S

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