news 
Celestia [TIA] hits $9.6, but uncertainty lingers about next moves
After a recent surge to $9.6, Celestia’s trajectory remains unclear as conflicting signals emerge from various technical and on-chain metrics.
Despite the price increase, the asset is still stuck within a bearish structure that may be primed for a potential major upswing. Technical indicators have thus far remained bullish, fueling speculation about a potential reversal in market sentiment. However, on-chain metrics have presented mixed signals, casting doubts over the viability of such a move.
The funding rate continues to demonstrate a bullish trend, indicating that traders are maintaining their long positions and supporting the current price action. This fundamental strength could potentially fuel further growth for Celestia [TIA].
On the other hand, open interest has declined significantly in the last 24 hours, indicating a growing number of unsettled short positions and bolstering the downward pressure on TIA’s market value. Furthermore, the recent surge to $9.6 has resulted in significant long liquidations, a trend that could contribute to further losses.
If these mixed signals persist, TIA may continue to decline in the near term. A shift in this sentiment alongside stronger bullish momentum would be necessary for a reversal to take place.
It is worth noting that if the asset’s price does not hold at the current level, it may lead to further volatility and potentially lower prices.
Source: ambcrypto.com
