- Over the last 24 hours, the Celestia (TIA) crypto trading volume has witnessed a huge advance.
- The fear and greed index for the crypto is at 74 indicating greed among investors.
Source: CoinMarketCap
Celestia (TIA) is a modular data availability network that is designed for scalable blockchain deployment. It utilizes data availability sampling (DAS) and separates execution from consensus, focusing on minimal blockchain functionality.
TIA serves as payment for data services, gas for new blockchains, staking in PoS, and governance participation. Co-founded by Mustafa Al-Bassam and Ismail Khoffi, Celestia emphasizes scalability and decentralization.
With the advance in the trading volume, the market cap of the crypto has also been advancing over the last 24 hours. This indicates the strength in the trend of the crypto.
The trading price followed by the market cap of the crypto has advanced by 9.6% in the last 24 hours which further results in an advance of 81.8% in the traded volume of the crypto.
The market cap ranking of the crypto is #50 as per CoinMarketCap and its market cap value is $2.315 Billion which further results in a market cap dominance of 0.10%. Also, the value of traded volume for the crypto is worth $391.804 Million and the volume/market cap ratio of the crypto is 17.18%.
The volatility of the crypto is also high resulting in 7.32% which is considered high. The sentiment of the Celestia is also bullish and the crypto was released on October 31st, 2023.
Celestia Crypto Derivatives Analysis
Source: Coinglass
As per Coinglass, the weighted funding rate for the crypto has been declining consistently over the last few days. Despite this, the derivatives trading volume of the crypto has witnessed an advance of 89.4%.
The open interest for the crypto has further declined by 3.7% to $152.28 Million. Also, the long/short ratio of the crypto is 0.9685.
Celestia further has witnessed a higher long liquidation in the last 24 hours resulting in $805.68K. The crypto further has recorded a short liquidation of $420.63K indicating sellers’ dominance.
Social Dominance Vs Social Volume
The social dominance and the social volume of the crypto are parallel to each other following the same trend. The social presence of the crypto is declining as there is a slight decline in the social dominance and the social volume of the crypto.
TIA Crypto Technical Analysis
Source: TIA/USD Chart By TradingView
From the very beginning, the trading price of the Celestia crypto was following a rising wedge pattern. The price of the crypto further broke below this pattern and the price since the breakdown has declined by 25%.
Also, the price of the crypto is still slipping to further lower levels and indicates weakness in price on the daily chart followed by an uncertain candlestick formed a day ago.
TIA/USD Chart by TradingView.com
The trading price of the Celestia crypto has declined below the 20 and the 50-Day EMAs followed by the death cross of the EMAs. This indicates a downtrend followed by the EMAs.
The signal line and the MACD line are trading in a bearish cross followed by both lines trading below the zero level. This indicates the selling pressure and bearishness in the trading price of the crypto.
The RSI is also indicating weakness on the chart as its value has declined to 37.51 level followed by a decline below the 14-Day SMA.
Summary
Celestia faces bearish signals despite recent trading volume surges. With a decline in social presence and technical indicators showing weakness, the price has dropped 25%, slipping below key support levels.
EMAs indicate a downtrend, while MACD and RSI suggest selling pressure and bearish sentiment, raising uncertainties about price recovery.
Technical Levels:
- Support Levels: $8.900 and $11.400
- Resistance Levels: $18.500 and $21.00
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.