The price of Celestia has experienced a fall of 6% over the course of the previous two days, following a notable increase of 143% over the preceding week.
If the 23.6% Fibonacci retracement level is breached, it is possible that Celestia's stock price may decline to $5.
In the forthcoming year, a daily release of 998.58K TIA tokens, valued at $5.8 million, is scheduled.
The price of Celestia has had a notable surge since its initial release on October 31, establishing itself as one of the cryptocurrencies that have made a big impact on the market. Nevertheless, in the upcoming trading sessions, it is anticipated that the cryptocurrency may see a decrease due to the substantial influx of supply that is expected to enter the market.
The Celestia tokens are made available for unlocking on a daily basis.
Celestia, a recently introduced cryptocurrency, has garnered significant interest within the cryptocurrency market because to its rapid ascension to the ranks of the top 100 cryptocurrencies. The alternative cryptocurrency (altcoin) presently possesses a market capitalization of $793 million, accompanied by a circulating supply of 141 million TIA.
The observed rise in demand over the previous ten-day period has led to a significant jump in the price of the cryptocurrency, with a notable 143% gain recorded over the past week. Nevertheless, in the foreseeable future, there exists a possibility that Celestia might potentially see a decline in its acquired benefits, as the market is anticipated to witness an influx of TIA tokens.
In the forthcoming year, a daily release of over 998.58 thousand TIA, valued at over $5.8 million, is anticipated. The cumulative value of TIA that is expected to be unlocked within the upcoming week, month, and year amounts to $40.6 million, $180 million, and $2.1 billion, correspondingly.
It is expected that there will be a drop in the value of TIA, as those who have achieved profits in the previous week would likely seek to safeguard their gains. This decline may be attributed to the equilibrium between supply and demand. This is expected to lead to a decrease in pricing. Moreover, irrespective of profit realization, the augmentation of supply has a tendency to erode the intrinsic worth of an item as time progresses.
However, if the market becomes accustomed to the daily influx of TIA valued at $5.8 million, the aforementioned scenario may be rendered worthless.
The potential for Celestia price to elicit surprise is evident.
The price of Celestia had a significant increase of 143% throughout the past week, followed by a subsequent decline of 6% over the course of the last 48 hours. Currently priced at $5.61, TIA is gradually approaching the 23.6% Fibonacci Retracement level, which is situated at $5.52 and is derived from the range between $6.54 and $2.25.
The absence of this support line would lead to a decline in the altcoin's value, causing it to approach the $5.00 threshold, which aligns with the 38.2% Fibonacci Retracement level. In the event that investors want to divest their interests in the vicinity of this threshold as a precautionary measure against probable losses, there is a possibility that the value of TIA may decline below $5.00.
Nevertheless, in the event that TIA investors choose not to realize their gains and the market does not perceive the influx of tokens as a detriment to price movement, there is a possibility that the Celestia price may rebound from either the $5.52 or $4.90 thresholds in order to preserve the profits it has recently accrued. The validation of the bearish thesis would be negated if the $5.52 level is reclaimed as a support, so providing TIA the required support to potentially achieve more gains.
