Celestia’s (TIA) airdrop process made headlines in 2023. The prolonged decline has seemingly ended within 24 hours. At the time of writing, TIA is trading at $7.30, reflecting a 12% increase. This rise made it the second most appreciated cryptocurrency after MEW. The price surge in TIA has generated significant excitement in the market. Investors’ confidence in the token’s rise is growing, and futures traders are increasingly adding to their long positions.
Celestia (TIA) Comments
TIA’s value had experienced a prolonged decline. Today, TIA investors are increasingly taking long positions. Data from Coinglass shows that the token’s funding rate on cryptocurrency exchanges was predominantly negative between July 4-19.
In the last few days, the increase in TIA’s price has also seen a rise in demand for long positions. This shift is interpreted as a change in market sentiment from bearish to bullish. As of the time of writing, TIA’s funding rate remains above zero at 0.0042%.
The increase in open interest in futures trading reflects the bullish sentiment for altcoins. Open positions have reached $176 million, a 40% increase since July 19. The rise in open positions indicates that new positions are being opened without closing existing ones.
How Much Will TIA Be Worth?
Daily price charts for TIA suggest a potential long-term price rally. First, analyses based on the Parabolic Stop and Reverse (SAR) indicator show a bullish trend for TIA. As of the time of writing, the indicator’s points remain below TIA’s price.
These points are a critical part of the indicator. When these points stay below the price, it indicates an upward market movement. This suggests that the price is continuing its upward trend and may continue to do so. Additionally, TIA’s Chaikin Money Flow (CMF), indicating fund inflow, also shows a positive outlook, staying above the zero line at 0.07 as of the time of writing.
If the bullish trend in TIA continues, the price could reach $8.09. However, a sudden increase in selling pressure could lead to a drop to $4.13, marking an eight-month low.
