Celestia (TIA) Defends Descending Channel Support Could It Push the Rally to $8?

Celestia’s native token, TIA, fell more than 3% on Thursday as renewed volatility across the broader cryptocurrency market weighed on mid-cap altcoins, despite signs that a key technical support level continues to hold on higher timeframes. The move comes as traders reassess risk following recent price weakness across the altcoin sector.

Source: CoinMarketCap

According to CoinMarketCap data, as of Thursday, January 29, TIA is trading at $0.436, posting a 5.53% decline over the past week.

Despite the pullback, 24-hour trading volume jumped 29.54% to $44.39 million, suggesting active repositioning rather than capitulation. Celestia’s market capitalization currently stands near $380.5 million.

Also Read: Celestia (TIA) Breakout Alert: Inverted H&S Pattern Set to Skyrocket to $0.78?

Celestia TIA Holds Long-Term Channel Support

On the 2-day chart, TIA continues to trade inside its descending channel that has been responsible for its overall downtrend in recent months. The price action indicates that the support level of the channel is holding up well. This level is traditionally known to attract dip-buying interest, making it important to traders.

Source: Jonathan Carter X Post

According to the crypto analyst Jonathan Carter, as of Thursday, January 29th, if the buyers sustain dominance above this floor of the channel, TIA might attempt a gradual recovery towards successive resistance levels.

In the short term, the projected upside levels for TIA are $0.60 and $0.90. In the near term, the projected levels for TIA are $1.33 and $2.35. In the long term, the projected levels for TIA are $3.90, $5.75, and $8.00.

A break below the $0.33 support area would mean that the current setup is invalid, and TIA would likely experience a rise in downside liquidity, further confirming the current bearish trend.

Short-Term Bias Remains Weak Below Key EMAs

Although the support level at higher time frames is holding, the overall picture at lower time frames is cautious. According to TradingView, as of Thursday, January 29, the asset is unable to sustain the price at the $0.50 level, resulting in a breakdown below the 20, 50, and 100 exponential moving averages. This caused the selling pressure to increase, resulting in the asset touching the lower Bollinger Band.

Source: TradingView

Since then, TIA has tried to stage a small rebound from the $0.41-$0.43 support area. However, the price action is still contained below the 50-EMA at $0.46, which is an important level to watch for any changes in the short-term picture. The Bollinger Bands are also tightening, which is a sign of diminishing volatility.

Also Read: Celestia (TIA) Price Analysis: $0.5578 Holds as Breakout Pressure Builds