CandleFocus Celestia (TIA) May Slip to $3.72 as $1 Billion Token Unlock Looms
2024-10-03
Author: Content Editor
The modular blockchain network Celestia will be conducting a large token unlock event in October, releasing $1 billion worth of TIA tokens. This has led to a spike in selling pressure, causing TIA's price to decline by 18% in the past week. The Relative Strength Index (RSI) indicates that selling activity currently outweighs buying pressure, but the market is relatively neutral. Additionally, the negative funding rate suggests that futures traders are anticipating further price declines. If selling pressure continues, TIA's price could fall by 30% to $3.72, but if there is a shift in market sentiment and increased demand, the price could climb to $10.37.
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