Social Sentiments On The Rise As Celestia Price Bounces 15% A Da

7월 8일

Social Sentiments On The Rise As Celestia Price Bounces 15% A Day
Celestia's price took A U-turn and bounced back 15% a day.
The social sentiment curve has registered a positive growth indicating the rising participation of the users.

Celestia price took a rebound from multi month lows and made a strong bounce back erasing nearly 15% of the recent losses in Intraday. The price got the buyers back from a lower $4 level support and surged higher.

At the time of writing, Celestia was exchanging hands close to $5.91, recording an impressive positive intraday development of 15%. The recovery in the broader market reestablished confidence among the investors.

The intraday recovery has to stay long in order to make a bullish trend shift in the price. Moreover, there has been a significant development in the social metrics curve which reveals a possible comeback by the bulls.

Furthermore, the transaction volume has surged by nearly 175% to $167 Million a day indicating a heightened demand. The live market capitalization reached to $1.18 Billion ranking it at 63rd in the cryptoverse.
Investors Reaffirm Their Belief in Celestia
The recent sessions have observed a recovery after a sharp comeback. However, the recovery is gaining more strength as TIA investors are again showing up their confidence.

Adding more to the Investors confidence, there has been a significant development in the social metrics curve. A recent on chain data study reveals that there has been a healthy growth in the social dominance and social volume curves.

Social dominance and social volume curves reveal the amount of traction celestia could gain from various social media platforms like Twitter, telegram and other popular social media applications.
Can Celestia Continue To Recover Or Suffer Again
A strong recovery in intraday reveals the bulls intention to keep Celestia price higher and erase the recent losses. However, it requires continuous efforts from the buyers until the price reclaims a bullish territory.

Applying Fibonacci tool from the recent high ($12) to recent low ($4) reveals the price has surpassed the 0.23 level of Fibonacci and may easily rise till the $8 to $9 level which is the golden zone.

Now, if the bulls are strong enough to surpass the golden zone of Fibonacci it may indicate a bullish reversal. On the contrary if the sellers establish their presence near the golden zone, the price may show decline towards the recent swing low.

The technical indicators are leaving a mixed reaction about the current trend. On one side the RSI line has improved from the oversold region. Whereas, the key EMAs still point towards a bearish trend prevailing.

Can Celestia Mark A Reversal?
Celestia price has rebounded from multi-month lows, surging 15% from a recent support level of $4. This uptick reflects an improved sentiment in the broader market and renewed investors confidence. Moreover, A bullish trend shift hinges on sustained recovery, bolstered by positive social metrics indicating a potential bull comeback.

Furthermore, The price has crossed the 0.23 Fibonacci retracement level, hinting at a possible rise to the $8-$9 'golden zone'. A breakthrough here could signal a bullish reversal, while resistance might lead to a retest of recent lows.