Celestia's Rally Falters: Can It Recover or Will Losses Mount?

8月17日

Celestia's Rally Falters: Can It Recover or Will Losses Mount?
Meta Description: Celestia experienced a 10.3% loss this week, erasing the gains in the initial sessions.

Celestia price has been following a strong bearish trend for the last six months wiping out over 70% of its value.
At the time of writing, Celestia was trading close to $5.05, recording a negative intraday development of 1.88%.

Celestia price failed to capitalize over the gains in the early sessions of this week and has dropped wiping out the gains in the later sessions of this week. Looking overall, Celestia scored a 10.3% loss this week.

Celestia had a strong performance from November to February 2024. However, TIA price reversed in the later weeks of February and since then it has been on a major downtrend. The price has dropped nearly 71% in the last six months.

At the time of writing, Celestia was exchanging hands close to $5.05 incurring a 1.88% loss in intraday. Let's analyze whether TIA could head for gains in the next week or continue to plunge more.
Social Metrics In A Declining Trend: What’s Next?
As per the data obtained from a financial website app.santiment.net, the social metrics like social volume and social dominance curves were observed to be on a declining trend. The declining social metrics indicates the waning interest of the investors.

<iframe title="Santiment Chart: Social Dominance (TIA), Social Volume (TIA)" width="800" height="425" src="embed.santiment.net/chart?ps=celestia&pt=TIA&df=2024-02-17T18:29:59.234Z&dt=2024-08-17T18:29:59.234Z&emcg=1&emhwm=1&wm=social_dominance_total;social_volume_total&wax=0;1&wc=#5275FF;#68DBF4&ws={"interval":"1d"};{"interval":"1d"}" scrolling="no"></iframe>

Source: app.santiment.net

The social metrics includes users and activity over social media platforms like X (Formerly twitter), Telegram and other platforms. A negative trajectory highlights the decreasing activity over the social media platforms and declining users participation.

<iframe title="Santiment Chart: Total Open Interest in USD (TIA), Price (TIA)" width="800" height="425" src="embed.santiment.net/chart?ps=celestia&pt=TIA&df=2024-02-17T18:29:59.234Z&dt=2024-08-17T18:29:59.234Z&emcg=1&emhwm=1&wm=total_open_interest;price_usd&wax=0;1&wc=#FF5B5B;#26C953&ws={"node":"area"};" scrolling="no"></iframe>
Source: app.santiment.net

Moreover, the derivatives analysis showcases that the Open interest contracts had noted a positive flow in the earlier two weeks. However, this week the OI data recorded an outflow of nearly 27 Million accounting for nearly 25%. The drop in OI data indicates liquidation of the positions on the long side.




Can Celestia Stabilize Now Or Plunge More?
As per the technical charts, Celestia started strong this week and added few gains showing the intention of a recovery. However, the buying momentum was short lived and the price turned around in the later sessions of this week.

TIA price suffered rejection from the 50 day Exponential moving average and slumped, erasing the gains and further widening the losses. As of now, Celestia was down over 1.88% a day and 10% a week.

The short term as well as long term trend outlook is bearish which may keep draining the price. On the lower side, the $4.47 level may act as a demand which if breached may add more to the worse possibly dragging the price towards the $4 level.

At the time of writing, the RSI line was placed close to 44.5 points and that of the 14 day SMA line was at 45.22 points. Both the lines were showcasing a bearish crossover indicating a bearish control in the short term.


Celestia experienced a 10.3% loss this week, erasing the gains in the initial sessions. After a strong performance from November to February 2024, TIA has been in a major downturn since late February, dropping nearly 71% in six months. Declining social metrics from platforms like X and Telegram indicate waning investor interest. Derivatives analysis shows a recent outflow of $27 million in open interest, suggesting long position liquidations.

Furthermore, the technical charts reveal a short-lived recovery attempt, with TIA facing rejection at the 50-day EMA and continuing its decline. Both short-term and long-term trends are bearish, with potential further drops if the $4.47 support level is breached.