The Celestia price rebounded from multi-month lows and made a strong bounce back, erasing nearly 15% of the recent losses in Intraday. The price got the buyers back from a lower $4 level support and surged higher.
At the time of writing, Celestia was exchanging hands close to $5.91, recording an impressive positive intraday development of 15%. The recovery in the broader market reestablished confidence among the investors.
The intraday recovery has to stay long in order to make a bullish trend shift in the price. Moreover, there has been a significant development in the social metrics curve, which reveals a possible comeback by the bulls.
Furthermore, the transaction volume has surged by nearly 175% to $167 Million a day, indicating a heightened demand. The live market capitalization reached $1.18 Billion, ranking it at 63rd in the cryptoverse.
Investors Reaffirm Their Belief in Celestia
The recent sessions have observed a recovery after a sharp comeback. However, the recovery is gaining more strength as TIA investors again show their confidence.
Adding more to the Investors’ confidence, there has been a significant development in the social metrics curve. A recent on-chain data study reveals that there has been healthy growth in the social dominance and social volume curves.
Social dominance and social volume curves reveal the amount of traction Celestia could gain from various social media platforms like X (Twitter), Telegram, and other popular social media applications.
Can Celestia Continue to Recover or Suffer Again?
A strong recovery in intraday reveals the bulls’ intention to keep the Celestia price higher and erase the recent losses. However, buyers need to make continuous efforts until the price reclaims bullish territory.
Applying the Fibonacci tool from the recent high ($12) to the recent low ($4) reveals that the price has surpassed the 0.23 level of Fibonacci and may easily rise to the $8 to $9 level, which is the golden zone.
Now, if the bulls are strong enough to surpass the golden zone of Fibonacci, it may indicate a bullish reversal. On the contrary, if the sellers establish their presence near the golden zone, the price may decline towards the recent swing low.
The technical indicators are leaving a mixed reaction about the current trend. On one side, the RSI line has improved from the oversold region. However, the key EMAs still point towards a bearish trend prevailing.
Can TIA Price Mark a Reversal?
The Celestia price has rebounded from multi-month lows, surging 15% from a recent support level of $4. This uptick reflected an improved sentiment in the broader market and renewed investors’ confidence. Moreover, A bullish trend shift hinges on sustained recovery, bolstered by positive social metrics indicating a potential bull comeback.
Furthermore, The price has crossed the 0.23 Fibonacci retracement level, hinting at a possible rise to the $8-$9 ‘golden zone’. A breakthrough here could signal a bullish reversal, while resistance might lead to a retest of recent lows.
