Date: Sun, February 9, 2025 | 04:05 AM GMT
The cryptocurrency market is showing signs of recovery today after weeks of heavy corrections. Many altcoins are turning green again, bouncing back from their recent lows. This recent correction was largely influenced by Deepseek’s launch and new tariff policies introduced by Donald Trump, which created a bearish sentiment across the market.
With this recovery, Celestia (TIA) and Gala (GALA) have also posted notable gains of 8% and 5%, respectively, while holding critical support levels. Both coins have faced more than a 30% decline in the last 30 days, but they are now showing signs of stabilization.
Celestia (TIA)
The weekly chart for Celestia (TIA) shows that the price has been consolidating within a descending triangle and a falling wedge pattern. The downtrend began on December 2, after a rejection at the $9.28 resistance level, leading to a sharp decline.
This downward move pushed TIA to a crucial support zone at $2.35, aligning with the lower boundary of the falling wedge. However, the price has held steady at this level and is now trading around $3.07. Historically, this level has acted as a strong support, and if the pattern repeats, we could see a bounce from here.
A breakout above the 25-day Simple Moving Average (SMA) would confirm a bullish trend, with the upper resistance trendline as the next major target. If buying momentum increases, TIA could attempt a retest of its previous resistance levels.
Gala (GALA)
Similar to TIA, Gala (GALA) has also been consolidating within a descending triangle pattern. The recent downtrend, which started on December 2, was triggered by a rejection at the $0.066 resistance level.
This correction took GALA down to a major support zone at $0.018, but the price has managed to hold and is now trading around $0.022. This level has historically been a strong rebound zone, and if the trend holds, GALA could soon challenge the 100-day SMA as a key resistance.
A breakout above this moving average would open the doors for a retest of the descending trendline, possibly pushing GALA towards the $0.040-$0.050 range in the coming weeks.
Is a Bounce Back Ahead?
Both TIA and GALA are showing strong resilience at their key support levels. The next move will largely depend on the broader market, especially Ethereum (ETH), which is currently trading at $2,666. If ETH maintains its recovery momentum, it could help altcoins like TIA and GALA confirm a breakout.
On the technical side, the MACD indicator on both charts is still bearish but showing signs of weakening downward momentum. If a bullish crossover occurs, it could signal a potential trend reversal and fuel a strong recovery.
While the market remains volatile, the current support levels suggest that a bounceback could be on the horizon for both TIA and GALA.
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