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Celestia crypto lost major support at $5 and crashed today in conjunction with the broader market. The bulls surrendered after a short struggle near $6 as the price resumed indicating a bearish continuation. At the time of writing, TIA had slumped nearly 8.17% and was exchanging hands at the $4.79 level. The live market capitalization of TIA fell below $1 Billion to $949 Million.  Celestia is first modular blockchain which allows anyone to deploy their own blockchain with minimum overhead. It has a total supply of 1.053 Billion tokens out of which 194.96 Million tokens are currently in circulation.  Weighted Sentiment Curve Turned Bearish With the price crash in the recent sessions, there has been a significant development in the weighted sentiment curve. As per the data obtained by an on-chain analytics website, the bullish sentiments have faded away due to which the weighted sentiment curve has dropped below the zero line indicating a bearish domination.  Moreover, the weighted sentiment curve serves as a barometer for the collective mood of investors and traders, indicating whether optimism (bulls) or pessimism (bears) is prevailing. A positive weighted sentiment signifies a bullish outlook, while a negative one reflects a bearish stance within the cryptocurrency market. TIA Crypto Price Action Analysis TIA crypto has been under strong selling pressure which is evident after the price crashed below the recent psychological level of $5. The price is well below all the 20, 50 and 200 day EMAs highlighting a bearish continuation.      If the bearish momentum resumes, TIA may drop to the $4 and $2.8 support levels. A short term surge may turn out as a sell on rise opportunity for the bears.  At the time of writing, the RSI line was placed at 25.30 points and that of the 14 day SMA line…

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Filed under: News - @ July 5, 2024 12:22 pm