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- TIA slips 6.37% to $0.9089 as trading volume falls 12.33%, showing continued weakness and low investor demand.
- Analysts warn TIA remains bearish below $0.96, with next downside targets set at $0.87 and $0.82 levels.
- Market data shows open interest and volume drop further, confirming traders’ cautious stance amid weak momentum.
Celestia (TIA) is currently trading at $0.9089, a decline of 6.37% in the past day. The trading volume is down 12.33% and is now at $86.29 million. The token has fallen 10% during the last week, which proves a consistent downtrend and low purchasing. The mood in the market is apprehensive, with investors not attracting new investments.
Source: CoinMarketCap
TIA Drops Below Key Support
Crypto analyst Alpha Crypto Signal highlighted that TIA has fallen below its horizontal channel support. The token had narrowed down to a range of $1.10 to $0.96 over several weeks until it lost this strong value. The recent breakdown affirms a bearish configuration, and the price is currently retesting the range low.
The bearish bias will remain intact so long as TIA is below $0.96. Traders are placing short openings at this stage. Technical projections suggest that the next downside targets are $0.87 and $0.82. But when TIA recovers at a level of $0.96, this bear market structure can soon be invalidated.
Source: X
Furthermore, another analyst, BullishBanter, revealed that TIA is encircling the range following recent lows. The liquidity is positioned above equal highs, which indicate a possible recovery. With the prospect of increasing buying pressure, the price may seek to close in the $1.21 zone in the short term.
Source: X
Also Read: Uphold Brings Back U.S. Debit Card with XRP Rewards
Open Interest and Volume Decline
According to CoinGlass data, the trading volume decreased by 9.69% to $254.58 million, and the open interest is also down by 4.44% to $92.37 million. The OI-Weighted Funding Rate is at -0.0146%, indicating that short positions still prevail. These values show little demand and cautious optimism of traders.
Source: CoinGlass
The market participants are awaiting validation before engaging in new positions. The noted decline in open interest indicates that most traders are not opening new positions and are closing existing ones. It coincides with the uncertainty regarding the near-term direction. Reduced funding rates indicate greater risk aversion instead of risk confidence.
TIA is technically weak in the short term. Any further downward movement below $0.87 would verify downward momentum, and another reclaim above $0.96 may lead to the short covering. Meanwhile, the course of least resistance seems to be downwards. The traders are recommended to watch closely at the retest area because the token would still be trading under pressure.
Also Read: Hong Kong Securities Watchdog Examines Digital Asset Treasuries
