TIA hits a new high for the year, then falls back to around 0.63
$TIA After surging to a new high for the year yesterday, TIA failed to hold on to its gains and fell below its early-morning low again this morning. I expect it to keep pulling back today and tomorrow. Several rebounds last night failed to hold, and the rise following Eden’s announcement has yet to continue.
On the Binance TIA/USDT spot hourly chart, TIA reached a high of 0.769 USDT yesterday, but had retreated to around 0.63 by this morning. Several rebounds from last night into the early hours were turned back around 0.67–0.68, after which the lows continued to move lower.
The 0.67–0.68 range is where the recent rebound has run into resistance. If TIA gets back above that range and holds it on a retest, I’ll shift to a more optimistic view and look for the rebound to continue. For now, it remains below that level. An occasional bullish hourly candle isn’t enough to show that this pullback is over.
On the news front, Celestia introduced Eden on the evening of the 16th, exploring how AI agents can issue their own tokens, trade, and make payments on the chain. The official documentation says Eden is an independently operated EVM chain that publishes transaction data to Celestia, and that TIA is used to pay transaction fees on the chain. An additional use case is good news, but sustained use of the application and continued growth in transactions would be needed to potentially generate more demand for fees.
TIA had already risen for a while before the announcement, so the entire rally can’t be attributed to Eden. My guess is that the new narrative attracted buyers chasing the rally, while others took profits after the price climbed. But that’s just one interpretation of the price action: the information available doesn’t confirm who was selling, nor does it prove that there was a wave of liquidations.
The project has a new use case, and I’m also interested to see what it can deliver. But falling from 0.77 to 0.63 in less than a day is certainly discouraging, and the case for a short-term bullish outlook is weaker than it was yesterday.
#TIA #Celestia