Are you watching Celestia’s space travels in the cryptocurrency world? As always, we like to monitor the price movements of previous large airdrops. And Celestia was one of the good ones of 2023. Now let’s look at the chart again. Well, bear with me, because things are getting interesting lately.
Celestia’s Bumpy Ride
Imagine this: Celestia’s price soared to the stars, hitting an all-time high of $21.16 on February 10th. But since then it has descended a bit into the unknown.
The recent 37% plunge from March 13th to 19th threw a wrench in the works and made us question the bullish trend we were riding. If you’re curious where we’re headed next, let’s dive in.
Reading Celestia Tea Leaves
So what will Celestia’s price action be like? Between January 3 and March 19, what experts call a “rounded top” formed. Cool term, right? Essentially, this means that there were higher highs all the way up to the all-time high, and then some not-so-high highs after that.
This sell-off took us down to $11.74, the support level at the start of this space journey on January 3rd. It then broke another support level at $15.14 between March 13 and 19, hitting a lower low for the first time. After a while. That’s not good news, and suggests we may have a bit of a rough ride ahead.
Learn more about trading basics in Part 2 of the guide.
What’s next for Celestia?
If the current trend continues, Celestia may lose some weight and fall to $10 or even $9.14. This represents a potential 22% correction from the current $13.18.
But be sure to wear a space helmet! There is still hope. If Bitcoin decides to turn things around and rise again, it could attract Celestia. Imagine a scenario where the price breaks away from the $11.74 support level and breaks above $20.33. This could set us up for a 23% rally and an all-time high of $25.
My Trading Settings
There is no pressure to trade in this market. I allowed the deals to come to me.
In other words, I placed a long-term order at $9.70. Once it reaches that low, there is over 100% upside to hit previous all-time highs again. After the Celestia Airdrop in 2023, prices experienced an “up only” phase. It is natural that this should subside for a few weeks. Once I find the button, I think the next step will be to be aggressive again. So for now, let’s wait until the price reaches the target.
If a trend reversal occurs and $TIA breaks above $15.14 again, you can change your order and look for a long position in that range.
final thoughts
So, space travelers, here we are. Celestia’s price action has been a bit of a roller coaster lately. Anything could happen next, so buckle up and keep your eyes on the stars. Whether we’re heading into a bear market or rocketing to new highs, one thing’s for sure: there’s never a dull moment in the cryptocurrency world!
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