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⚠️ Celestia Looks Bearish: Will TIA Retest 52 Week Low Mark Of $2?
TIA token is trading in a downtrend and is highlighting distribution from the supply region of $20 and lost over 40% last month.
The price action directs follow-on selling pressure and displays falling parallel channel. Recently, the token has breached its major support zone of $10 and is reflecting an intense selloff.
At press time, the Celestia (TIA) price traded at $8.65 with an intraday drop of 1.10%, reflecting bearishness on the charts. It has a monthly return ratio of -19.30% and 194.30% yearly.
The pair of TIA/BTC is at 0.000132 BTC, and the market cap is $1.19 Billion. Analysts are neutral and suggest that the TIA price may extend the downmove and will retest the $5 mark soon.
🔸 Celestia TIA Eyeing $5 Mark: What’s Next For TIA?
On the daily charts, TIA highlights severe follow-on selling pressure and has slipped below the key moving averages.
Following the market correction, Celestia stayed on the top in the list of the top losers and erased over 40% of gains last month.
Amidst the price fall, the key indicators have shown a negative outlook and suggest further selloff may be seen ahead. On an analysis of 24 technical indicators, 12 indicators gave a sell signal, while 8 gave a neutral outlook, whereas only 4 indicators showed a buy signal.
This analysis highlights the short term downtrend and low investor interest.Bulls need to retain the 200 day EMA mark to attain any pullback.
🔸 Futures Open Interest Data Outlook
The futures data highlights the long unwinding data and the open interest dropped over 1.20% to $95.33 Million in the last 24 hours.
The Momentum Indicator (Relative Strength Index) looks negative, and the curve stands in the oversold region, replicating a negative divergence.
The MACD indicator saw a bearish crossover and persisted in forming the red bars on the histogram. Per the Fibonacci retracement levels, the TIA price dragged below the 23.6% support zone and is on the verge of the lower bollinger band.
