- The expected TIA recovery is likely to be delayed as profit-taking activities intensify.
- While market sentiment remains solidly bullish, with key indicators pointing to positive movement.
Celestia (TIA) managed to rebound, offsetting a monthly loss of 19.23% with a gain of 6.10% over the past 24 hours. Market activity and technical charts continue to support a bullish outlook.
However, as traders move TIA holdings to exchanges in anticipation of selloffs, this rally could stall or experience temporary setbacks.
Traders favor profit-taking over long-term gains for TIA
Data from Coinglass revealed that TIA started experiencing profit-taking activities, while Exchange Netflow turned positive.
A positive Exchange Netflow indicates that traders are moving TIA from private wallets to exchanges, positioning the asset for sale to capitalize on recent market gains.
As of press time, more than $277,000 worth of TIA has been transferred to exchanges for potential profit-taking in the past hour. In the event of a sell-off, this influx could limit TIA’s rally.
Source: Coinglass
This trend aligns with a resistance level at 4.525 on the chart, where significant selling pressure could push the asset’s price down to a target of 4.161. Continued pressure could see TIA fall further to 3.722.
Source: TradingView
Bullish structure holds as TIA profit-taking begins
Despite recent profit-taking on TIA’s spot positions, open interest remained high as traders opened more long contracts.
High open interest – at 14.69% at press time and valued at $266.49 million – suggested a significant number of unsettled futures contracts, indicating strong market engagement.
This rise in open interest is likely to support further bullish momentum for TIA.
Source: Coinglass
Additionally, the funding rate remained positive with long traders paying shorts to balance the price disparity.
This stable funding reflects growing confidence in the rally and increased bullish positioning among market participants.
If these indicators hold, any decline in TIA price should be temporary, with a recovery expected soon.
Read Celestia (TIA) Price Prediction 2024-2025
Long sell-offs weigh on TIA rally
As of press time, liquidation data suggests the market is still under bearish pressure, with long liquidations totaling $1.11 million. This massive sell-off caused the price of TIA to fall further, preventing it from moving higher.
If long sell-offs persist, the downtrend could continue until the market can gain enough momentum to challenge and break through resistance levels.
