【TIA 4H】Price hits a new yearly high, while on-chain usage is declining
$TIA 24h up 23.9%, with $326 million in futures trading volume, putting it third on the futures gainers list (Binance, 23:02; current price: 0.7056).
There are two catalysts: Celestia launched Eden, an experimental EVM chain that uses TIA for gas and focuses on payments by AI agents; and TIA has gained about 59% over the past four weeks.
But here’s the anomaly: according to Crypto Briefing, the amount of blob data written to Celestia each day fell from 2.77 billion bytes on September 18 to 2.05 billion bytes on October 15. The price is rising, but usage is falling.
Three pieces of evidence:
① On the 4H chart, price rallied from 0.4209 to 0.7233 and is now hovering near the previous high.
② Volume is rising on the way up and shrinking on pullbacks; trading volume over the last 10 candles is 1.36 times the average.
③ The 0.6235–0.6429 support zone is close to Fib 0.382 at 0.6078, providing a potential support area on a retest.
My view: don’t chase the previous high; wait for a pullback.
Plan 1 (primary): Place a small long order near 0.63, stop-loss at 0.598, first target at 0.665, second target at 0.7233.
Plan 2 (backup): Consider a small short only if price spikes to around 0.725 and forms a long upper wick; stop-loss at 0.745, target at 0.665.
Invalidation: If a 4H candle closes below 0.598, the bullish scenario is invalidated. Admit the mistake and exit; the next level to watch is Fib 0.5 at 0.5721.
With the narrative and usage diverging, which one do you trust more?
Sources: CoinDesk, Crypto Briefing
$TIA #Celestia #Altcoins
📈 Top three futures gainers (23:02): $AGT +163.78%｜$ICNT +28.37%｜$TIA +23.86%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.
$TIA 24h up 23.9%, with $326 million in futures trading volume, putting it third on the futures gainers list (Binance, 23:02; current price: 0.7056).
There are two catalysts: Celestia launched Eden, an experimental EVM chain that uses TIA for gas and focuses on payments by AI agents; and TIA has gained about 59% over the past four weeks.
But here’s the anomaly: according to Crypto Briefing, the amount of blob data written to Celestia each day fell from 2.77 billion bytes on September 18 to 2.05 billion bytes on October 15. The price is rising, but usage is falling.
Three pieces of evidence:
① On the 4H chart, price rallied from 0.4209 to 0.7233 and is now hovering near the previous high.
② Volume is rising on the way up and shrinking on pullbacks; trading volume over the last 10 candles is 1.36 times the average.
③ The 0.6235–0.6429 support zone is close to Fib 0.382 at 0.6078, providing a potential support area on a retest.
My view: don’t chase the previous high; wait for a pullback.
Plan 1 (primary): Place a small long order near 0.63, stop-loss at 0.598, first target at 0.665, second target at 0.7233.
Plan 2 (backup): Consider a small short only if price spikes to around 0.725 and forms a long upper wick; stop-loss at 0.745, target at 0.665.
Invalidation: If a 4H candle closes below 0.598, the bullish scenario is invalidated. Admit the mistake and exit; the next level to watch is Fib 0.5 at 0.5721.
With the narrative and usage diverging, which one do you trust more?
Sources: CoinDesk, Crypto Briefing
$TIA #Celestia #Altcoins
📈 Top three futures gainers (23:02): $AGT +163.78%｜$ICNT +28.37%｜$TIA +23.86%
#BinanceSquare
⚠️ The above is a compilation of information and personal opinion, and does not constitute investment advice. DYOR.