Date: Wed, March 12, 2025 | 12:15 PM GMT
The cryptocurrency market is showing signs of recovery as US inflation drops to 2.8%, following a sharp downtrend over the past week. Celestia (TIA) is emerging as a standout performer in this rebound, surging 18% after bouncing from key support. This price action suggests a potential bullish reversal that could help $TIA regain ground from its 53% decline over the past 90 days.
Source: Coinmarketcap
Double Bottom Pattern
The daily chart of TIA suggests that the price is currently trading within a double bottom pattern, a classic bullish reversal structure. This pattern typically signals the end of a downtrend and the beginning of an upward move.
Celestia (TIA) Daily Chart/Coinsprobe (Source: Tradingview)
Recently, TIA faced rejection at its neckline resistance of $4.48, pushing it back down to test the second bottom support at $2.63. However, this level proved to be a strong support zone, leading to a bounce back to the current price of $3.49.
The MACD indicator is showing early signs of a bullish crossover, which often signals momentum shifting in favor of the buyers. If TIA follows the current pattern, it will likely approach the $4.48 neckline resistance again. A successful breakout above this level could trigger a strong bullish move toward the next resistance zone of $5.49 - $5.70, representing a potential 25% upside from the current price.
Will This Pattern Spark a Breakout?
With TIA bouncing strongly from key support, the double bottom formation is gaining momentum. However, for this bullish structure to confirm a true trend reversal, the price needs to break above the neckline resistance at $4.48 with strong volume.
If TIA successfully clears this hurdle, it could trigger a breakout rally toward the next resistance zone at $5.49–$5.70.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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