TIA Price Rises 14% Amidst Celestia’s $100 Million Reserves Announcement
Celestia's native token TIA is trading at $1.59, up 14% in the last 24 hours. This rise follows co-founder Mustafa Al-Bassam's response to concerns about insider token dumping and declining community trust.
- Al-Bassam confirmed the project's financial health with over $100 million in reserves and a six-year operational runway.
- The token has decreased by more than 92% from its all-time high of $20.91 in June 2024.
- Market capitalization has fallen by over $2.9 billion, now at $1.08 billion.
- Allegations surfaced that insiders sold tokens while influencers promoted TIA.
- Criticism exists around the prolonged token unlock schedule, allowing large holders to sell systematically.
TIA Price Outlook
TIA shows signs of a potential short-term reversal, with the RSI bouncing from oversold conditions. It needs to maintain support above $1.55 for bullish sentiment. If it falls below this level, retesting $1.30 is possible.
If TIA breaks above the $1.80 mid-band resistance, it could target the upper Bollinger Band near $2.25.
TIA price chart with RSI and Bollinger Bands | Source: Trading View