CandleFocus Celestia's TIA suffers nearly 10% loss following $900 million token unlock
2024-10-31
Author: Content Editor
Celestia (TIA) has experienced a 9% decrease in value due to concerns over its recent cliff unlock event, which released 176 million TIA tokens into circulation. Cliff unlocks can lead to price declines if demand does not meet the new supply. Some investors are worried about potential selling pressure, but the CEO of Stix trading platform clarified that only 92.3 million TIA tokens are available for immediate sale. TIA has dropped below its moving averages and may test the $4.506 support level. A bounce from this level could lead to a rise towards $6.874, while a failure to hold the support could result in a drop to $3.722. The RSI and Stochastic indicators suggest increasing selling pressure.
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