Celestia (TIA) Rally Falters: Can It Recover Or Not?

Celestia (TIA) price failed to capitalize on the gains in the early sessions of this week and has dropped. It wiped out the gains in the later sessions. Overall, Celestia scored a 10.3% loss this week.

Celestia had a strong performance from November to February 2024. However, TIA reversed in the later weeks of February, and since then, it has been on a major downtrend. The price has dropped nearly 71% in the last six months.

When writing, Celestia exchanged hands for close to $5.05, incurring a 1.88% loss intraday. Let’s analyze whether TIA could head for gains in the next week or continue to plunge more.

Social Metrics In A Declining Trend: What’s Next?

Per the Santiment, the social metrics like social volume and social dominance curves were observed to be on a declining trend. The declining social metrics indicated the investors’ waning interest.

The social metrics include users and activity on social media platforms like X (formerly Twitter), Telegram, and others. A negative trajectory highlights the decreasing activity over social media platforms and declining user participation.

Moreover, the derivatives analysis showcased that the open interest contracts noted a positive flow in the previous two weeks. However, this week, the OI data recorded an outflow of nearly 27 Million, accounting for nearly 25% of the total. The drop in OI data indicates the liquidation of the positions on the long side.

Can Celestia Stabilize Now or Will It Fall Further?

As per the technical charts, Celestia started strong this week and added a few gains, showing the intention of a recovery. However, the buying momentum was short-lived, and the price turned around in the later sessions of this week.

TIA suffered rejection from the 50-day EMA and slumped, losing the gains, widening the losses. Celestiawas down over 1.88% intraday and 10% over the week.

The short-term and long-term trend outlook is bearish, which may drain the price. The $4.47 level may act as a demand on the lower side. If it is breached, it may be worse, possibly dragging the price towards the $4 level.

When writing, the RSI line was placed close to 44.5 points, and the 14-day SMA line was at 45.22 points. Both lines showcased a bearish crossover, indicating a bearish control in the short term.

Celestia experienced a 10.3% loss this week, erasing the gains in the initial sessions. After a strong performance from November to February 2024, TIA has been in a major downturn since late February, dropping nearly 71% in six months.

Declining social metrics from platforms like X and Telegram indicate waning investor interest. Derivatives analysis shows a recent outflow of $27 Million in open interest, suggesting long position liquidations.

Furthermore, the technical charts reveal a short-lived recovery attempt, with TIA facing rejection at the 50-day EMA and continuing its decline. Both short-term and long-term trends are bearish, with potential further drops if the $4.47 support level is breached.

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