Celestia (TIA) is preparing to unlock 80.77% of its circulating supply, equating to $1.05 billion. This has raised concerns about selling pressure impacting TIA's price. The token's price is currently $5.95, with indications it could drop below $5.
The impending token release is among the largest since Celestia's inception, with analysts foreseeing substantial price fluctuations. Using the Chaikin Money Flow (CMF), a volume-weighted oscillator indicating money flow into or out of an asset, the altcoin is expected to exhibit a downtrend.
Negative CMF readings forecast a potential downturn for TIA, with the altcoin at risk of significant price drops. This sentiment could lead the price below $5, influenced by technical analysis.
Technically, TIA is displaying a head and shoulders pattern, suggesting a shift from bullish to bearish trends. Prices moving below the pattern’s neckline ($4.73) could see TIA dropping to $3.87 amid the heightened selling pressure.
If the price dips below the neckline, a notable correction is anticipated. Conversely, surpassing this level mitigates bearish predictions, opening possibilities for price surges to $7.30 and potentially $10.40 if buying intensifies post-supply shock.
