Celestia (TIA) is facing significant challenges as an upcoming token unlock event could introduce a large amount of new supply, elevating selling pressure and volatility. The unlock will release 73.3% of TIA's circulating supply, approximately 175 million tokens valued at $859 million, potentially affecting prices negatively.
Technical indicators such as RSI and EMA lines suggest market momentum is seeing minor improvement, but overall trends remain bearish. The Relative Strength Index (RSI) has slightly risen to 31.79, indicating some buying activity and potential stabilization, yet it stays near oversold levels.
The entry of this influx of tokens might increase selling pressure, especially if recipients decide to sell. Immediate price resistance exists at $5.73, $6.50, and $6.89, while support lies around $4.68 and $4.47. A price drop to $3.72 is possible, suggesting a 24% potential correction.
