Main points
- The price of Celestia (TIA) increased by 10% in 24 hours.
- $5.62 million worth of TIA tokens flowed from the exchange, indicating that investors expect TIA’s price to continue to grow.
- TIA’s trading volume peaked at $350 million before falling slightly, indicating strong market interest. people, Emphasis on strict compliance with local financial regulations.
Exchange outflows drive Celestia price surge
Celestia (TIA) price reportedly surged 10% in just 24 hours in one of the most impressive rallies this month coin market cap. This surge is particularly notable because it coincides with large foreign exchange outflows.
Large foreign exchange outflows usually indicate that investors are holding on to their assets. It also suggests investors may be bracing for potential further gains.
This is the case for Celestia on November 6th, coin glass data showed significant TIA worth $5.62 million flows out of exchange.
For context, exchange inflow and outflow data tracks how many coins are flowing in or out of the trading platform. These moves reflect growing optimism and could mean the altcoin rally still has momentum.
Celestia price increases and foreign exchange outflows aren’t the only notable developments. According to CoinMarketCap data, Total value of TIA surges to over $2 billion.
Additionally, early this morning, its trading volume rose to $300 million. Although trading volume has declined slightly since then, it is still significantly higher than in previous days.
Increased trading volume often indicates increased interest in cryptocurrencies.
TIA focuses on key resistance levels
As Celestia continues its upward momentum, technical analysis suggests the coin is approaching a key resistance level. Specifically, TIA is approaching a point on the 4-hour chart that could break out of the Ichimoku Cloud.
Ichimoku Cloud is a trading tool used to predict trends and find support and resistance levels.
For TIA, bulls are currently trying to push the price above this resistance area. If they succeed, it could pave the way for more revenue.
The next target for TIA price is around $6.15, a level that many traders are watching closely. Additionally, TIA’s PVT level is currently at 22 million, validating the market’s bullish trend.
The chart above shows that the supertrend is showing a “buy signal”. Supporting this is the CMF indicator, currently at 0.15.
These indicators point to strong bullish momentum that could push TIA towards the $6 target. However, if the price struggles to break above the Ichimoku Cloud resistance, a retracement to $3.73 is possible.
Overall, Celestia’s recent 10% price increase, coupled with a surge in exchange outflows and trading volume, points to strong investor optimism.
As bulls push prices towards key resistance levels, The next few days will be crucial in determining whether TIA can maintain its upward momentum.
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