Celestia has not changed much over the previous twenty-four hours, with the TIA price now resting at $16.66. Meanwhile, the whole market has seen a loss of one percent.
Although the layer-one token has seen a decline of 17% after reaching an all-time high of $20.16 a few of weeks ago, TIA has continued to increase by 8% in a week and by 23% in a month after reaching that level.
Since achieving this record high, the coin has been in a state of turbulence, and it is now seeking to establish a new top despite the fact that the cryptocurrency market is experiencing similar indecision.
At this moment, market participants are pondering whether or not a decline is on the horizon.
Nevertheless, despite the fact that it has been uncertain over the past few weeks, there are other promising coins that can be used to diversify into. For example, the new stake-to-mine platform Bitcoin Minetrix has raised more than ten million dollars in its presale.
Can We Expect a Crash from Celestia? The TIA Is Now 10% Cheaper
At the moment, the chart of TIA is in a negative position, and its indications are indicating that more declines may be forthcoming in the near future.
Particularly noteworthy is the fact that it seems as if its present price is poised to dip below its 30-day moving average (yellow), which is a move that has the potential to erode market confidence.
At the same time, the relative strength index (purple) for TIA has been circling about the 50 level for over two weeks now, which highlights the fact that it is having a difficult time regaining clear momentum.
Given that the coin's trading volume has decreased from $850 million in the beginning of January to $200 million at the present time, it is also indicative of the challenges that it is experiencing.
As a result, there is a decline in market interest in the token, which had a significant surge in value between the middle of November and the middle of January due to the introduction of new exchange listings.
Given that holders have been taking gains over the course of the previous couple of weeks, it would seem that the dust has now cleared a little bit.
In the medium and long run, the expansion of TIA's native platform, Celestia, will be the driving force behind the price development of TIA.
This blockchain is a novel "modular" blockchain that is meant to grow in proportion to the amount of users who are connected to its network.
Despite the fact that it launched its mainnet in late October, in spite of the fact that its technology seems to be promising, it is still in its infancy and has not yet garnered any significant acceptance or usage.
