In this analysis, I want to review the TIA coin for you. This project is one of the protocols in the Cosmos ecosystem and currently ranks 53 on CoinMarketCap with a market cap of $1.51 billion.
📅 Daily Timeframe
As you can see on the daily chart, there's a descending trendline, and the price has been moving down along with it. Currently, the price has reached its main support zone at 2.274.
✨ This is the most critical support for this coin, and if it breaks, the price will move toward a new all-time low. So, buyers will do everything they can to protect this support.
💥 If the price gets supported at this level, the first trigger for opening a long position would be the breakout of the descending trendline. That trigger level is the break of 2.956.
🛒 You can also use this trigger for spot buying. The main trend reversal confirmation comes with a break above 4.324. However, in any case, if any of these triggers are activated, I personally will wait for Bitcoin dominance to show a trend reversal before buying altcoins on spot using the first solid trigger I find.
🔽 For short positions, the key point to remember is that the trend is already downward, so we don’t need a trend reversal confirmation to go short.
⭐ The short trigger is very clear and straightforward — if the 2.274 level breaks, you can enter a short position. Additionally, a pullback to the trendline can also be used as an entry point.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
✅Buy and Trade here on $TIA
