Rally

Celestia

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-anticipate-celestia-price-drop-despite-recent-rally/" data-wpel-link="internal">Investors Anticipate Celestia Price Drop Despite Recent Rally</a> 
Celestia’s (TIA) recent price surge has made it one of the best-performing assets this week and in the last 24 hours. However, instead of instilling confidence and optimism, this rally has inspired <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> to take a different and downward path to reduce profits. Here are the notable <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> points and key levels in the TIA price analysis. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-celestia">What’s Happening with Celestia?</h2> 
As the <a href="https://en.coin-turk.com/the-rise-of-bitcoin-sv-bsv-reasons-behind-the-surge/" data-wpel-link="internal">altcoin</a> recovered most of its recent losses, Celestia’s price showed a good rise this week. However, during this time, TIA holders were inspired to heavily short the altcoin. The same trend is evident in open interest and funding rates. 
Celestia’s open positions have significantly increased over the past two days, doubling from $80 million to $190 million. This sharp increase indicates a significant rise in altcoin trading activities and investments. The rapid rise in open positions generally underscores growing interest and confidence among traders and investors. However, this is not the case with Celestia. TIA investors are expecting a price drop as indicated by the funding rate. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-369631 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/tia-1.webp" alt="" width="1732" height="428"> 
TIA’s funding rate has reached its highest point since inception, turning from positive to negative. A negative funding rate typically indicates that short positions are paying long positions in the futures market, reflecting bearish sentiment among investors. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-369630 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/tia-rate.png" alt="" width="1727" height="422"> 
When these two data points are combined, it becomes clear that the increase in open interest indicates a rise in short contracts, driving the funding rate to historic lows. This shows that TIA holders expect and demand a price drop following the rally. 
<h2 class="p1" style="text-align: justify" id="tia-chart-analysis">TIA Chart Analysis</h2> 
Celestia’s price can move in two directions. One is according to investor demand, and the other is according to market suggestions. If TIA follows investor demand, it may lose recent gains and drop to $4.9. 
Trading at $6.6 could lead to a 24% drop, signs of which are already visible in the recent 8% decline. On the other hand, if the price rises again and turns $7.2 into a support level, a rise above $8.1 is likely. This could push Celestia’s price to $10, invalidating the bearish thesis. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-369629 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/tia-grafik-1.webp" alt="" width="1804" height="808"> 
<ul class="Summary"> 
 <li>Celestia’s price surge made it a top performer this week.</li> 
 <li>Investors are shorting the altcoin, expecting a price drop.</li> 
 <li>Funding rate and open interest indicate bearish sentiment.</li> 
</ul> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/investors-anticipate-celestia-price-drop-despite-recent-rally/" data-wpel-link="internal">Investors Anticipate Celestia Price Drop Despite Recent Rally</a></h5>

Investors Anticipate Celestia Price Drop Despite Recent Rally

Innholdsfortegnelse

COINTURK NEWS

Andre artikler publisert på 11. juli 2024

2024's Top Trending Tokens: Potential Winners in the Crypto Market

Crypto Craze: Republicans See Digital Currency Shaping 2024 Elections — Survey

USDC volume surges to $23B in 2024: What are the reasons behind the rise?

ARG Fan Token Soars 70% After Drake’s Bet Loss

Analyst Predicts Bitcoin Will Reach New All-Time High

Molly: A Memorable Character in the Story

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!