Celestia: Is $TIA Still a Good Long Term Hold? $TIA

Despite its long term potential, TIA's price action has been bearish for most of 2024. Is it safe to maintain the altcoin in your portfolio?

TIA, the native token of the Celestia ecosystem has underwhelmed in recent times. An analysis of the altcoin in May shows that the token is down by 16%. Zooming out into its 2024 performance showed that TIA is down by almost 60%.

Despite the bearish price action, TIA still looks like a good hold for the long term based on staking rewards and potential airdrops.

However, its current price action offers opportunities for short-term trades.

Capital inflows have been a challenge for $TIA the past two months where it has recorded the most significant price drops of 2024. A look at the Chaikin Money Flow (CMF) indicator shows that capital inflows have been more negative than positive.

This could be a strong hint to the outlook of short-term investors, with trading capital flowing into tokens with other larger capitalization altcoins.

The current price rejection at the $9 resistance level offers shorting opportunities in the near term. With the Relative Strength Index (RSI) flipping bearish and capital inflows remaining negative, the target level for the short position will be at $8 for 13% gains.