Are you watching Celestia’s cosmic journey in the crypto world? As usual, we like to monitor the price action of previous big Airdrops. And well, Celestia was one of the good ones of 2023. So here we are, staring at the charts again. Well, hold on tight because things have been getting interesting lately.

Celestia’s Bumpy Ride

Picture this: Celestia’s price soared to the stars, hitting an all-time high of $21.16 on February 10. But since then, it’s been a bit of a descent into the unknown.

A recent nose-dive of 37% from March 13 to 19 has thrown a wrench into the works, making us question that bullish trend we’ve been riding on. If you’re wondering where we might be headed next, let’s dive in.

Reading the Celestia Tea Leaves

So, what’s the deal with Celestia’s price action? Between January 3 and March 19, it’s been forming what experts call a “rounded top.” Fancy term, right? Essentially, it means we’ve been seeing higher highs leading up to that all-time high, followed by some not-so-high highs afterward.

This recent crash took us down to the $11.74 support level, which had our backs at the start of this cosmic journey back on January 3. Then, between March 13 and 19, we crashed through another support level at $15.14, marking our first lower low in a while. That’s not great news, suggesting we might be in for a bit of a rough ride ahead.

Learn More about Trading Fundamentals in our Guide Part 2

What’s Next for Celestia’s Price?

If the current trend continues, we might see Celestia shedding some weight, possibly dropping down to $10 or even hitting $9.14. That’s a potential 22% correction from where we’re floating at $13.18.

But, hold onto your space helmets! There’s still hope. If Bitcoin decides to switch things up and start climbing again, it could drag Celestia along for the ride. Imagine a scenario where we bounce off that $11.74 support level and shoot past $20.33. That could set us up for a 23% rally and a brand-new all-time high of $25.

My Trade Setup

In this market, I don’t force a trade. I let the trade come to me.

That being said, I have a long order at $9.70. If we get that low, the upside to reach the previous all-time high again is over 100%. After the Celestia Airdrop end of 2023, the price experienced an “up only” phase. It’s only natural that this must cool down for a few weeks. Once it finds its button, I think the next leg up will be aggressive again. So for now, we wait, and let the price come to our targets.

If we see a trend reversal, and $TIA breaks through $15.14 again we might change our orders and find a long position in that range.

Final Thoughts

So, there you have it, fellow space travelers. Celestia’s price action has been a bit of a rollercoaster lately. Buckle up and keep your eyes on the stars because anything could happen next. Whether we’re headed for a dip or a rocket ride to new highs, one thing’s for sure: it’s never a dull moment in the world of crypto!

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You might also like our recent trading blogs about Bitcoin’s Flashcrash to $9k, and Solana meme coin trading bot.

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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