Celestia (TIA) has found itself in a challenging situation recently, with the altcoin suffering a notable 9% price drop in the last 24 hours. The current bearish momentum in the market has left TIA struggling to break key resistance levels and raise any hopes of a recovery. As of now, the price is trading below crucial moving averages, and technical indicators continue to point towards a downtrend. Despite attempts by buyers to reverse the trend, TIA’s price has failed to surpass the 50-day exponential moving average (EMA), which currently sits at $3.597, leaving the market sentiment weak and negative.

A Declining Pattern for TIA

The price of Celestia has been steadily declining over the past year, with a dramatic drop of 77.09%. Over the past six months, TIA has experienced a further loss of 46.05%, while in the past three months, it has dropped by 34.10%. Even within the last month alone, Celestia has seen a decrease of 15.19%, highlighting a persistent bearish trend that refuses to let up. This consistent downtrend has triggered the market to favor sellers, as evidenced by the continuous decline in trading volume.

Currently, the altcoin’s value is at $3.245, a sharp contrast to its once higher price points. The 24-hour trading volume has also fallen by 36.17%, which suggests that the selling pressure is very real, and the bearish sentiment is not going away anytime soon. The combination of these factors has left the market in a position where the bulls are unable to capitalize on any upward momentum.

Technical Indicators Reveal a Bearish Outlook

The technical outlook for Celestia continues to be negative, with both short-term and long-term indicators suggesting that bearish dominance remains. The moving averages, such as the 50-day and 200-day exponential moving averages, are firmly in a “sell” position, further reinforcing the weakness in the market.

Additionally, the Relative Strength Index (RSI), which measures the strength of an asset’s price momentum, has fallen below 50 and is currently positioned at 44.34. This decline in the RSI indicates that buying pressure is weakening, and market sentiment is tilting further toward bearish. At the same time, the Moving Average Convergence Divergence (MACD) indicator is showing a horizontal trend, suggesting that neither the bulls nor the bears have a clear advantage right now.

Despite these indicators, Celestia’s recent performance has failed to break out of its downtrend. A reversal from the current market state would require a significant shift in momentum, but there are currently no strong signs pointing to such a change.

Support and Resistance Levels to Watch

For any potential recovery, there are two key resistance levels for TIA to surpass. The first is the 50-day exponential moving average (EMA), which is currently at $3.596. If TIA can manage to break above this level, it may pave the way for further gains, but this will be a tough battle given the current selling pressure. The next resistance level sits at $4.181, which represents a critical price point that traders will need to keep an eye on. Should Celestia overcome these levels, it could signify the start of a bullish rally.

However, there is also significant downside risk to consider. The price has found support at $2.750, which serves as a key level to watch. If TIA breaks below this level, it could further confirm the ongoing bearish trend, leading to even lower price points.

Will April See a Recovery?

Looking ahead to April, the prospects for a recovery seem slim without a major shift in market sentiment. While the resistance levels of $3.596 and $4.181 offer a glimmer of hope for potential rallies, the overall bearish sentiment, coupled with weak technical indicators, suggests that Celestia will continue to face an uphill battle. The market is currently dominated by sellers, and with no immediate signs of a reversal, April may not bring the recovery that investors are hoping for.

In conclusion, Celestia’s price is under intense bearish pressure, and while recovery is always possible, it seems unlikely in the short term. Traders and investors will need to remain vigilant, watching for key levels of support and resistance to identify any possible turning points in the market. However, until there is a clear shift in momentum, Celestia may continue its struggle in the bearish market.