TIA Price DIsplayed Breakout, But Could It Continue Strong?
In Q1 2024, TIA experienced impressive gains of over 810% on the daily chart. However, a supply zone created by profit-taking led to a significant sell-off, forming a declining wedge pattern. The price has been confined within this narrowing range for 215 days.
By Q3, specifically in September, TIA found strong support at $3.884, a level it has consistently held since July. This month, increased bullish activity has broken through the upper boundary of the falling wedge.
If bullish interest continues and achieves a change of character (ChoCh) above $8.0 and the 200-day EMA band, a parabolic recovery could occur. Key resistance levels to watch are $7.966 and $11.798.
However, if TIA fails to surpass the 200-day EMA hurdle, it may continue to move sideways, and the upcoming token unlocks could push the price lower. Breaching this critical support zone could risk TIA falling to new lows.