Celestia Price Prediction: TIA at crossroads as it forms rounded top

Celestia (TIA) price shows a slowdown of the bullish momentum after forming an all-time high (ATH), and suggests a potential reversal. If Bitcoin triggers a sell-off, it could kickstart another correction, TIA is most likely to follow its lead.

Also read: Celestia price could dip before TIA rallies 40%

Celestia price ready to shed weight

Celestia price action between January 3 and March 19 has formed a rounded top with a string of higher highs preceding the ATH of $21.16 on February 10 and subsequent lower highs to date. In forming the rounded top, which is a bearish setup, marked a key development due to two reasons:

Celestia price crashed 37% and tagged the $11.74 support level, which formed the base at the start of the rounded bottom on January 3. 

The sudden sell-off between March 13 and 19, resulted in a breaching the $15.14 support level, which has created the first lower low on a high timeframe outlook. This bearish shift in market structure hints at a sustained downtrend, especially if BTC continues its descent.

Therefore, Celestia price could see a retest of the $10 psychological level or the low volume node at $9.14. This move would constitute a 22% correction from the current level of $13.18.

TIA/USDT 1-day chart

On the other hand, if Bitcoin price switches up the bearish outlook and triggers a reclaim of the $70,000 psychological level, it could change the altcoin market dynamics. In such a case, if Celestia price bounces off $11.74 support level and produces a higher high above $20.33, it would create a higher high and invalidate the bearish outlook.

This development could see Celestia price attempt 23% rally and set up a new all-time high of $25.