Celestia (TIA) has been struggling to reverse a persistent three-month downtrend, facing challenges in maintaining gains above crucial resistance levels.
This indicates a lack of strong market confidence, as investors appear cautious in propelling the altcoin into a definite upward trend.
Despite receiving some support from investors, the Chaikin Money Flow (CMF) indicator has only slightly risen and remains just below zero, indicating that while money is flowing in, overall investor sentiment remains uncertain.
Buyers are attracted to TIA's low price, but the momentum is not substantial enough to break the downtrend decisively.
The failure of the CMF to surpass zero indicates lingering caution among traders, suggesting that positions are cautiously being taken, potentially leading to increased volatility without broader market support.
The Relative Strength Index (RSI) briefly entered bullish territory but has since fallen below the neutral 50 level, indicating fragile bullish momentum likely influenced by selling pressure or external market uncertainties.
The drop below 50 reinforces the fragility of TIA's price recovery. Without renewed buying power, overcoming resistance may be challenging, continuing to confine TIA to subdued trading ranges.
Currently priced around $2.54, TIA is testing a crucial support level at $2.53, essential for stabilizing prices and preventing further declines, particularly after failing to breach the $3.00 resistance during its prolonged downturn.
While a significant breakout seems improbable at the moment, if the $2.53 support holds, TIA could consolidate, potentially gaining momentum to reattempt the $3.00 resistance after surpassing $2.73.
However, a clear break below $2.53 could escalate bearish pressure, pushing prices towards $2.27, undermining short-term bullish possibilities and increasing downward risks.