TIA’s outlook remains bearish on the short-term scale, although the landscape could change soon as it forms a new bullish pattern on the daily chart. A breakout of this pattern could trigger a major trend shift.
The sharp bounce off the $2.35 level brought a substantial recovery in TIA’s price during last month’s trading, but it was short-lived under $4.5, and the price fell. This triggered a violent drop earlier this month, and the price rolled back amid rising supply throughout last week.
This time, the $2.6 level produced support and the crypto-asset increased suddenly to $3.8 yesterday. It faced rejection and dropped to around $3.5 at the time of writing. The price remains strong, but things may go south if it continues to face rejection.
A weekly close above the rejected monthly high should validate a slight shift in the trend before rallying hard to the top. Failure to close above this high could result in another drop with a potential breakdown.
Another bullish indicator to pay attention to is the double-bottom pattern on the daily chart. This pattern materialized after reestablishing support above the $2.3 level. A notable break above the neckline should confirm a massive bullish move.
TIA’s Key Levels To Watch
Source: Tradingview
Looking ahead, the $4.54 level is the key resistance to watch for a test. A clear break above it could rally the price to $5.7. The next resistance level on the way up is $7.12.
While the $3.2 level serves as a pullback area, the $2.63 level continues to support the market. If these levels collapse due to bearish pressure, TIA may navigate last month’s $2.35 low with a breakdown.
Key Resistance Levels: $4.54, $5.7, $7.12
Key Support Levels: $3.2, $2.63, $2.35
- Spot Price: $3.57
- Trend: Bullish
- Volatility: Low
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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