Celestia’s TIA rose nearly 17% during the October 16 trading session, pushing beyond its recent price range. At the time of this writing, its price was around $0.69 after briefly reaching the $0.7233 price area.
The rally carried TIA above an area where it was not able to advance before now. Buyers now face the tests of recovering the $0.70 price area, and keeping the former trading ceiling beneath them if the price pulls back.
TIA clears its recent ceiling
The daily chart shows how far the recovery has gone. TIA traded near the $0.30 price area in August before it saw a series of stronger advances through September and October.
More recently, attempts to move beyond the $0.60–$0.63 price area struggled to hold. Friday’s surge cleared that area and took it to its highest level in the period shown.
Trading volume also saw a lot of increase, with around 51.47 million TIA exchanged at the time of this writing.
The larger volume bar shows that more trading accompanied the latest advance than during most recent sessions.
The market was still open, so its final gain and closing level were yet to be seen.
The retreat below $0.70 leaves work for buyers
The four-hour chart shows that the rally is slowing down after its initial burst. Smaller candles formed around the $0.70 price area, and this is followed by a small decline toward the $0.69 price area.
That pause does mean that the recovery has ended, but what it shows is that it has yet to hold comfortably above the round-number level.
If it is able to sustain a recovery above $0.70, the session high will be near the $0.723 price level. Buyers would need to overcome that high before another advance can be seen.
The daily Relative Strength Index [RSI] was near 70 at the time of this writing. This means we could see a rally, and it also signals caution.
Where a pullback would test the recovery
Below the current price, the clearest area to watch is the $0.60–$0.63 price area.
If it’s able to hold there during a retreat, it would suggest that buyers are defending prices that previously led to some holders selling. But falling back below that area would weaken the latest breakout attempt.
If it sees a bigger price fall, the recent $0.53–$0.55 trading area will come back into view. But for now, the trend is improving with the closest obstacle at $0.70. Whether TIA retains its gains, or not, will give a better measure of the move’s strength.
Final Summary
- TIA gained nearly 17% at the time of this writing, clearing recent highs.
- Buyers need to recover the $0.70 price area, while the $0.60–$0.63 price level becomes an important area to defend during a pullback.
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