Market Data 
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.
Source: TradingView
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.
Source: coinglass
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.
The immediate support levels for the TIA is $8.20 and $8 whereas the key upside hurdle is around $9, followed by $9.20.
Conclusion
Celestia (TIA) crypto is trading in a downtrend and reflected an intense fall over the past few weeks. Still, the sellers have an edge and are eyeing to break the immediate support zone of $8 ahead.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
