Celestia (TIA) Price Faces Uncertainty Amid Waning Social Buzz

Celestia
(TIA)
has
attracted
broader
market
attention
as
one
of
the
best-performing
altcoins
over
the
past
seven
days,
with
its
price
rising
by
14.5%
to
$5.57.

However,
on-chain
data
suggests
that
despite
this
recent
surge,
the
native
token
of
the
modular
blockchain
project
might
struggle
to
sustain
its
upward
momentum.

Celestia
Rally
at
Risk
Due
to
These
Factors

One
indicator
pointing
to
a
potential
decline
in
Celestia’s
price
is
its
social
dominance.
Social
dominance
measures
the
proportion
of
discussions
about
an
asset
compared
to
other
top
100
cryptocurrencies.

For
example,
if
a
project
has
30%
social
dominance,
it
means
that
30%
of
social
media
posts
or
messages
about
top
100
cryptos
are
focused
on
that
project.
An
increase
in
this
metric
indicates
growing
market
attention,
as
was
the
case
with
TIA
until
August
9,
when
it
reached
a
weekly
high
of
$6.20.

However,
as
of
now,
TIA’s
social
dominance
has
dropped
to
0.07%.
If
this
decline
persists,
it
could
lead
to
a
decrease
in
TIA’s
price.

Read
more: Best
Upcoming
Airdrops
in
2024

Despite
the
potential
for
a
downturn,
sentiment
around
TIA
appears
to
be
improving.
According
to
Santiment,
the
Weighted
Sentiment
for
TIA
currently
stands
at
-0.238.
This
metric
measures
whether
online
comments
about
a
cryptocurrency
are
generally
optimistic
or
pessimistic.

A
negative
reading
suggests
more
pessimism,
while
a
positive
reading
indicates
bullish
sentiment.
Previously,
the
reading
was
-1.069,
which
shows
that
although
sentiment
is
still
negative,
it
has
improved.

If
the
Weighted
Sentiment
turns
positive,
demand
for
TIA
could
increase.
However,
as
long
as
the
sentiment
remains
negative,
it
may
be
difficult
for
the
token’s
price
to
maintain
its
upward
trend.

TIA
Price
Prediction:
Consolidation
Ahead?

The
technical
perspective
shows
that
despite
the
price
increase,
TIA’s
price
has
failed
to
break
above
the
descending
trendline.
Typically,
when
the
price
of
a
cryptocurrency
breaks
past
the
trendline,
it
could
serve
as
a
signal
for
a
bullish
continuation.

However,
failing
to
do
so
may
keep
TIA’s
price
stuck
below
the
trendline.
Additionally,
the
Accumulation/Distribution
(A/D)
indicator
reveals
that
TIA
lacks
the
necessary
buying
pressure
to
sustain
its
uptrend.

The
A/D
line
measures
whether
there
is
more
buying
or
distributing
in
the
market.
An
increase
in
the
indicator
suggests
rising
buying
pressure,
while
a
decrease
indicates
more
distribution.
For
TIA,
the
A/D
indicator
has
remained
relatively
flat,
suggesting
that
spot
volume
around
TIA
isn’t
particularly
high.

Read
more: Which
Are
the
Best
Altcoins
To
Invest
in
August
2024?

If
this
trend
continues,
TIA’s
price
may
consolidate
between
$4.67
and
$5.71.
In
a
highly
bearish
scenario,
the
price
may
drop
to
$4.07.
Conversely,
if
demand
increases,
TIA’s
price
might
retest
$5.93.