Celestia (TIA) Price Nears Oversold Region Following 12% Price Decline
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TIA, the native token of Celestia, faced a 12.37% price decline in the last 30 days, now trading at $5.32. Technical indicators suggest the token might further decline as it inches towards the oversold region, indicated by an RSI reading of 38.86. An RSI below 30 signifies an oversold asset, and TIA's continued momentum might cause the price to drop below $5. Additionally, the negative Funding Rate reflects market participants' bearish stance. TIA has been in a descending triangle since July 22, indicating a potential further breakdown if buying power remains weak. The Fibonacci Retracement indicator reveals potential support and resistance zones, predicting that the value of TIA could drop to $4.13 if selling pressure intensifies. However, the Money Flow Index suggests an increase in liquidity which could prompt a price rebound to $5.98, invalidating the bearish trend.
Source: beincrypto.com ↗
