TIA recently hit its all-time high price, climbing rapidly after reaching a low of $2.43 on November 10. This upward movement occurred within an ascending parallel channel, with the resistance and support trend lines of the pattern being tested multiple times.
On November 27, TIA bounced off the channel’s support line (green icon) and experienced significant growth, reaching a new all-time high of $12.47 today. The peak was formed near the channel’s resistance line (red icon).
Source: TradingView
A number of cryptocurrency traders and analysts have observed TIA’s impressive growth. CryptoGodJohn compared this movement to the dynamics of Solana (SOL), stating:
“$TIA shows early 2021 $SOL vibes before it went parabolic.”
CryptoKnight suggested that the price could continue to rise to $20.
2-hour TIA/USDT chart. Source: X
Finally, Kelvin Talen proudly mentioned his accurate prediction, which involved a bullish breakout from a falling wedge resulting in TIA’s new all-time high.
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Based on Elliott wave analysis, the most likely scenario suggests that the price initiated a five-wave upward movement in November. It is currently in the fifth and final wave of this structure.
Additionally, the six-hour RSI indicates further growth as it has broken bullish out of the bearish divergence trend line (green) and is above the neutral level of 50. These factors strengthen the bullish signals.
If TIA surpasses the upper boundary of the channel, the first target for the top of the fifth wave would be $14.50, representing a 20% increase from the current price. This target is calculated by multiplying the length of the first wave by 0.618.
The second most likely target for the formation of a top is $18.10, calculated by combining the lengths of waves one and three. Achievement of this target would indicate a 50% increase in the altcoin.
Source: TradingView
On the other hand, if TIA experiences a significant rebound from the channel’s resistance line, it may imply that the growth cycle has concluded. In such a case, there could be a 25% price decline towards the support line of the channel.
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