The price of Celestia (TIA) has dropped sharply, falling more than 15% in the past 24 hours and nearly 40% in the past 30 days. The current market capitalization is $2.2 billion, and this decline is occurring as technical indicators signal a bearish trend, including a new death cross appearing, suggesting the possibility of further decline.
Although TIA is holding an important support level at $4.54, the overall market sentiment remains negative. To recover, it needs to overcome resistance at the $5.50 level, but the current trend shows that the sellers are firmly in control.
The Downtrend of TIA is Strengthening
The Average Directional Index (ADX) for TIA is currently at 35.2, up from 31.2 just a day ago, signaling that the trend is strengthening. ADX measures the strength of a trend, whether it's up or down, on a scale from 0 to 100, with values above 25 indicating a strong trend, and below 20 reflecting weak or no momentum.
The increase in ADX confirms that the downtrend of TIA is intensifying, highlighting the increasing selling pressure in the market.
The directional indicators provide additional insight into the momentum of the trend. The +DI, representing buying pressure, has dropped sharply from 22.2 to 11.3, reflecting a significant weakening of the bullish momentum. Meanwhile, the -DI, indicating selling pressure, has increased from 14.3 to 33.3, signaling that the bearish activity is intensifying.
The combination of a declining +DI and an increasing -DI confirms that the sellers are firmly in control. This suggests that the price of Celestia may continue to face downward pressure unless buying interest increases to counter the bearish momentum.
Ichimoku Cloud Displays Bearish Momentum for Celestia
The Ichimoku Cloud shows that the TIA price has dropped deeply below the cloud, indicating a strong downtrend. The red cloud (Senkou Span A and Senkou Span B) reflects resistance overhead, as the slope remains flat but still above the price, suggesting no immediate reversal in sentiment.
The green line (Tenkan-sen) and the orange line (Kijun-sen) have diverged, with the green line below the orange line, confirming the bearish momentum.
Additionally, the green Chikou Span is below the cloud and the price, reinforcing the downtrend and the dominance of the bearish sentiment in the current market situation. For a sign of recovery, TIA will need to return within the cloud, which appears unlikely based on the current indicators.
TIA Price Forecast: Will It Test $4.10 Soon?
The recent formation of a death cross for Celestia has increased its bearish momentum, causing further price declines. A death cross occurs when the short-term moving average crosses below the long-term moving average, signaling a potential transition into a prolonged downtrend.
This technical development suggests that the current bearish sentiment is dominant, increasing the downward pressure on the price volatility of TIA.
Despite the bearish setup, the TIA price is still holding an important support level at $4.54. If this support level is breached, the price could continue to decline further to the $4.16 level, signaling a deeper correction.
Conversely, if TIA can recover and establish an uptrend, the price could target the nearest significant resistance at $5.50.
