Celestia [TIA] eyes $11.96 amid bullish momentum: Will it happen?

• TIA appears poised to climb to $8.3 if it clears its immediate resistance.
• To continue its larger rally toward $11.96, TIA must hold its bullish momentum.

Celestia [TIA] has emerged as a top performer in the recent altcoin rally. Despite a slight 3.45% decline over the past 24 hours, it remains up 22.80% for the week, maintaining a strong overall upward trend.

At press time, TIA is at an important point, and AMBCrypto analysis is closely watching to determine its next moves.

A barrier to TIA’s rally

TIA’s recent rally is largely driven by a bullish triangle pattern. However, to sustain its upward momentum, it must break through the pattern’s resistance line.

This setup presents multiple price scenarios. In a bullish scenario, TIA will breach the resistance, aiming first for a short-term target of $8.34, with potential to eventually reach $11.96.

Alternatively, it could find support at $5.368 before attempting a breakout.

Source: TradingView

In a bearish case, TIA might fall to the channel’s base at $4.886, with further pressure potentially driving it down to $4.512.

Market sentiment is mixed

As of now, market sentiment was mixed for TIA, though data from Coinglass showed a bullish trend in Open Interest and Open Interest Weighted Sentiment.

Open Interest, which reflects the number of unsettled derivative contracts, was bullish for TIA, gaining 5.45% to reach $248.39 million at press time.

The Open Interest Weighted Sentiment, which assesses the strength and direction of trader positions based on contract volume, has also remained bullish, climbing steadily since the 31st of October and reaching a high reading of 0.0453%.

Source: Coinglass

Both metrics suggested a likely sustained run for TIA with its recent gain.

However, additional indicators suggested potential bearish pressure. In the last 24 hours, $1.67 million in long liquidations indicate that traders anticipating a breakout have faced losses.

Source: Coinglass

Read Celestia’s [TIA] Price Prediction 2024–2025

Additionally, Exchange Netflow showed a significant influx of TIA into exchange wallets, signaling that some traders may be preparing to sell, either to lock in profits or due to waning confidence in further gains.

For a clear directional trend, market sentiment would need to align. If bullish momentum dominates, TIA could rally toward $11.96.