The TIA price hits new high but pulls back from peak as cryptocurrency uptrend faces uncertainty. Image by Kerem Goktug Kaya, DALL-E 3.
Celestia (TIA) has seen impressive growth since its launch on the Osmosis platform on October 31, 2023. Though the cryptocurrency started off modestly, TIA’s price has shown a volatile yet upward trajectory over time. Despite fluctuations inherent to the dynamic crypto market, TIA has managed to increase its valuation multiples over the past months.
The cryptocurrency now boasts a huge market capitalization and has become actively traded across over 100 exchanges. Backed by solid market demand, significant trading volumes, and a dedicated community, Celestia’s performance has exceeded expectations thus far.
TIA Price Breaks Out and Hits New All-Time High
Source: TradingView / TIAUSDT
The price of TIA has seen a major upswing today, jumping over 28% yesterday to break out of a 3-week long period of stability and hit a new all-time peak of $17.2987.
TIA has pulled back from its high point and is currently trading at $15.63, up 0.39%% so far today, however. As the TIA price continues testing important support markers, technical indicators are mixed on where this new uptrend might be heading next.
The 20-day moving average for TIA is $15.5125 while the 50-day moving average is $12.8120. The positive alignment between these short and long-term moving averages has persisted for weeks now, confirming the momentum of gains in the cryptocurrency.
Nevertheless, TIA’s inability to stay above the mentally important $16 level has put its breakout into uncertainty.
The RSI for TIA has moderated from yesterday’s 65.39 to 64.73, coming off the overbought area. This implies the exhaustion of buyers at current levels, although values above 50 still indicate overall bullish control.
Mixed Indicators on Continued Momentum as TIA Consolidates
The MACD histogram has turned positive at 0.0521, a change from yesterday’s -0.0643 reading, highlighting improving short-term momentum that could power a retest of TIA’s ATH.
With TIA’s market capitalization rising above $850 million, 24-hour trading volumes have spiked to $639 million. This expanded investor involvement gives further credibility to TIA’s breakout. Failing to overcome resistance could prompt a sharp pullback, however.
On the upside, TIA faces immediate resistance at its all-time high of $17.2987, which aligns with the Fibonacci 0.236 level at $16.9987. Moving above this zone is required to open the path to psychological resistance at $20.
On the downside, the TIA price is currently retesting support at $14.1337 to $15.2658, the previous swing high area. Importantly, the 20-day moving average and Fibonacci 0.382 level converge at $15.1250 to add to support. If this region fails to hold, TIA could quickly drop toward the 50-day moving average around $12.80.
With TIA consolidating under record peaks, its short-term outlook stays bullish but caution is justified. A break over $17 resistance would confirm the uptrend, while a drop below $15 support could prompt a deeper correction.
Traders may look to purchase dips given robust technicals, but defined risk practices are vital amid volatility.
After analyzing the recent price action and momentum behind Celestia (TIA), investors are turning their sights to the next potential breakout meme coin—Meme Kombat (MK). As TIA continues its upward trajectory, developers hope MK can follow a similar viral path to success when it launches soon.
Meme Coin Mania: MK Presale Heats Up as Uniswap Listing Looms
Meme Kombat is bringing a unique twist to the meme coin space with its virtual battle arena that allows users to wager the native MK token. Characters like Doge and Shiba Inu will battle it out in the arena, with victors earning more MK as prizes. Staking MK will also generate yields up to 155% annually.
Major Update
The Meme Kombat Staking Dashboard is officially live and ready to be used by you!
Take a break from Kombat and visit the staking dashboard here: https://t.co/nNFEYESjPs pic.twitter.com/yswl0esb4G
— Meme Kombat (@Meme_Kombat) November 9, 2023
The competitive and engaging Meme Kombat arena seeks to continually attract new users through seasonal updates. Season 1 at launch will introduce 13 meme coin mascots and a leaderboard, while Season 2 will add new battle types and token-earning mechanics.
The presale for MK is now in its final stage after raising over $6 million so far, giving investors a closing window to get involved. The 50% token supply available in the presale will continue at the current price of $0.279. MK cost just $0.183 at the start of the sale, however— marking a substantial 52% unrealized gain for earliest backers.
MK Uniswap Listing is Next
Founder Matt Whiteman intends to list MK on Uniswap once the presale finishes, allowing broader accessibility and liquidity. Historically, new Uniswap listings see high volatility as demand spikes. MK investors could expect a potential price surge after the DEX introduction.
Given the presale traction and forthcoming Uniswap debut, some wonder if MK could rival establishment meme coins like Dogecoin or Shiba Inu in 2024. While overtaking these giants seems ambitious, projects like PEPE and BONK have shown meme coins can still generate billions in market cap almost overnight.
At one point, PEPE and BONK reached over $1.4 billion each last year through viral social media hype. With Meme Kombat’s unique arena, staking rewards, and $6 million presale, it may have the ingredients needed to cook up similar exponential growth. The next few weeks leading up to the Uniswap listing could prove decisive in propelling MK into the upper echelon of meme coins.
The post Is It Too Late to Buy Celestia? TIA Price Hits a New All Time High as Novel Meme Coin Goes Viral appeared first on Cryptonews.