Is Celestia's Bull Run About to Run Out of Steam?

Celestia's bullish steam may be losing momentum as the price plunges from its all-time high of $21.16. The recent 37% crash has raised concerns about the coin's trajectory. A rounded top pattern signals a potential reversal, with lower highs following higher highs. If the price breaks below $11.74, a sharp correction could be triggered for Celestia.

Is Celestia's Bullish Run Coming to an End?

Celestia's (TIA) price has taken a tumble since hitting an all-time high (ATH) of $21.16 on February 10th. The recent 37% crash between March 13th and 19th has cast doubt on the coin's bullish trajectory.

Rounding Top Pattern Signals Reversal

Celestia's price action between January 3rd and March 19th formed a rounded top pattern, characterized by a series of higher highs followed by lower highs. This bearish pattern suggests a potential reversal.

Breakdown Below $11.74 Could Trigger Sharp Correction

A breakdown below the $11.74 support level, which was the base of the rounded top pattern, could lead to a steep 22% correction to $9.14. This move would wipe out the gains made since the start of the year.

Bitcoin's Influence on TIA's Fate

Celestia's price is closely correlated with Bitcoin's (BTC) movements. If Bitcoin triggers a sell-off, TIA is likely to follow suit. A sustained downtrend in BTC could push Celestia down to the $10 psychological level or even the low volume node at $9.14.

Bullish Case: Bitcoin's Recovery and New ATH for TIA

However, if Bitcoin reverses its bearish trend and reclaims the $70,000 level, it could lift the entire altcoin market. In this scenario, Celestia could bounce off the $11.74 support and set a new ATH of $25.

Conclusion

Celestia's recent price action suggests a potential reversal of its bullish trend. A breakdown below $11.74 could trigger a sharp correction, while Bitcoin's movements will continue to play a significant role in TIA's trajectory. Investors should monitor Bitcoin closely and adjust their positions accordingly.