Celestia: THESE signs reveal why TIA inflows surged despite BTC’s fall

• TIA recently hit a descending channel support level that has historically triggered rebounds, making it a crucial level to monitor.
• Will the recent surge in buying activity be enough to propel Celestia’s price to new heights?

Celestia [TIA] experienced an 11% drop in the last 24 hours, influenced by the market forces that also caused Bitcoin [BTC] to fall from $106K to $102K.

Despite the decline and geopolitical tensions, investors viewed the dip as an opportunity to buy.

Is this a strategic move by savvy investors or a misinterpretation of a weakening trend?

Increasing Accumulation – What’s the Investor Strategy?

TIA has witnessed a significant rise in accumulation amidst the ongoing market downturn.

According to CoinGlass’s Spot Exchange Netflow, approximately $401,000 worth of TIA was bought in the last 24 hours, bringing the weekly total to $6.94 million.

This marks the token’s highest weekly inflow in over three weeks.

Source: CoinGlass

The interest in TIA extended beyond spot markets.

The Open Interest Weighted Funding Rate remained positive at 0.0002%, indicating traders’ bullish stance despite market volatility.

…

Will TIA Follow Historical Patterns?

AMBCrypto’s analysis revealed that the recent buying pressure coincided with TIA reaching a key support level on the chart.

This support level is at the lower end of the descending channel, which has sparked upward movements on three previous occasions.

While the outlook from this level appears bullish, Fibonacci Retracement analysis indicates two major resistance levels on the path to the channel’s upper boundary.

Source: TradingView

The initial resistance level is at $1.606, followed by $1.732.

If TIA manages to surpass these resistance levels, bulls might aim for $1.834, suggesting a 30% increase from current prices.

However, a failure to break out could lead to sideways movement until new momentum emerges, especially if liquidity diminishes once more.