Celestia's TIA token is under bearish pressure as market sentiment and structure weaken ahead of an $85,000 token unlock scheduled for March 29. Despite a modest 1.3% decline in the past 24 hours, the increase in circulating supply and reduced demand are tilting the market towards sellers. The token unlock, although representing just 0.032% of the current supply, could disproportionately affect short-term sentiment.
Spot market activity has turned bearish, with investors selling approximately $513,000 worth of TIA on March 28, reversing a trend of gradual accumulation. This shift is mirrored in the derivatives market, where the Open Interest-Weighted Funding Rate has turned negative, indicating a preference for short positions. Technical indicators also point to further declines, as TIA has broken below a key support level of $0.2967, suggesting a potential move towards $0.233 unless buyers regain momentum.
Celestia Faces Bearish Sentiment Ahead of $85K TIA Token Unlock
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