As TIA remains within the bears’ radar, it is slowly showing strength as it foots bullish after holding well above a key price level this week. The bulls are currently set to take charge but volume appears low.
After undergoing consolidation for two weeks, TIA’s bulls showed strong commitment and pushed higher. The price surged briefly to $3.9 last week and quickly cooled off after marking it as resistance.
This triggered a serious dip, which almost led to another selling phase, but the $3 level provided support yesterday and the price bounced back strong. As of now, it is trading back around the resistance following an impressive gain in the last 24 hours.
Currently, it looks poise for an increase on the daily chart. A clear surge above $4 should bring a notable gain as it rallies higher. Meanwhile, there are several resistance levels on the way up, but a surge through them should bring a major recovery.
On the other hand, losing momentum may result in another drag down capable of causing a huge drop. Such a setup could invalidate the potential bullish move until it finds a solid ground.
From a technical standpoint, it appeared to have found a bottom and is likely to repeat the November 2023 bounce pattern that rallied the price massively to $21 last year. Currently, it is yet to break the neckline of the double-bottom formation on the daily chart.
Source: Tradingview
Surpassing the holding $3.9 resistance, the immediate level to watch for a test is the $4.54 resistance and potentially $5.7. A flip through all these resistance levels could bring us to $7.12 in the future.
Currently, the $3 level is considered a weekly support. If a drop occurs and the monthly $2.35 support breaks, the next low may come around $2 before locating a threshold.
Key Resistance Levels: $4.54, $5.7, $7.12
Key Support Levels: $3, $2.35, $2
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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