Celestia (TIA) Roars Back with 16% Rally – Is the Selloff Over?
TLDR
Celestia (TIA) rallied 16% in 24 hours despite recent bearish sentiment that pushed the token down 26%
Spot investors sold $2.97 million worth of TIA, likely due to profit-taking behavior
Derivatives market shows bullish momentum with positive funding rates and dominant long positions
Technical analysis points to $1.89 price target based on Bollinger Bands pattern
Open Interest surged 4.51% to $169.79 million, indicating increased market participation
Celestia recorded one of the strongest gains in the cryptocurrency market over the past 24 hours. The token rallied by 16% despite bearish sentiment that has dominated recent weeks.
The rally comes after TIA had dropped 26% in previous trading sessions. This turnaround has caught the attention of both spot and derivatives traders.
However, the market is showing mixed signals. While derivative traders are betting on further upside, spot market investors are taking profits.
Spot market data reveals that investors have exhibited a bearish stance in the past 48 hours. Selling activity has dominated this segment of the market.
CoinGlass data on Spot Exchange Netflow shows that investors sold $2.97 million worth of TIA. This metric tracks the volume bought and sold by spot market participants.
Source: Coinglass
The selling pressure during a rally suggests two possibilities. Traders may be taking profits or losing confidence in the token’s prospects.
Analysis indicates that profit-taking is the more likely reason behind the recent sell-off. This behavior is common when assets experience rapid price increases.
Despite the selling pressure, sentiment data shows continued interest in TIA. Community sentiment on CoinMarketCap reveals that 78% of investors expect the uptrend to continue.
Derivatives Market Shows Bullish Momentum
The futures market has seen a continued surge in long positions. Open Interest data supports this bullish trend.
The Open Interest Weighted Funding Rate on CoinGlass shows a bullish bias with a positive reading of 0.0057%. This indicates more open long contracts than short ones.
Open Interest surged 4.51% in the last 24 hours, reaching $169.79 million. This increase reflects growing participation in the derivatives market.
The funding rate flipped to positive territory from negative levels on Tuesday. This shift marks a bullish tilt in trading activity.
Source: Coinglass
Derivative buying volume remains strong based on the Taker Buy/Sell Ratio. A reading above 1 indicates dominant buy pressure, and the ratio currently stands above this threshold.
Top traders on Binance are positioned long on TIA. Rankings by position and account show readings of 1.6794 and 1.7624 respectively.
Technical Analysis Points to Higher Targets
Technical indicators suggest potential for further upside movement. Bollinger Bands analysis indicates a price target of $1.89 for TIA.
Source: TradingView
The token has already bounced from the lower Bollinger Band and cleared the middle band resistance. It now moves toward the upper band at $1.89.
The Relative Strength Index confirms upward momentum as it continues to rise. Although the RSI remains below the neutral 50 mark, a steady climb into the 50-70 range would strengthen the bullish case.
A falling channel pattern has formed on the daily chart. The pattern connects recent highs and lows, creating clear resistance and support levels.
TIA trades near the overhead trendline, hinting at a potential breakout. A clean push above the upper boundary line at $1.48 would mark the breakout of the channel pattern.
If the breakout occurs, investors could anticipate the uptrend to reach the June 24 high at $1.68. A move above this level could target $2.35, aligning with the 50% Fibonacci retracement level.
The MACD indicator displays an uptrend in both the MACD and signal lines. This indicates rising trend momentum in the token’s price action.
However, both the RSI and MACD remain below their reference lines. This warns traders that the bullish bias is not yet fully established.
TIA’s Open Interest surge and positive funding rates indicate increased optimism among derivatives traders as the token approaches potential breakout levels.
The post Celestia (TIA) Roars Back with 16% Rally – Is the Selloff Over? appeared first on CoinCentral.
Filed under: News - @ July 4, 2025 8:28 am