- The expected rally in TIA faces potential delays as profit-taking activity intensifies.
- While market sentiment remains solidly bullish, with key metrics hinting at positive movement.
Celestia [TIA] has managed to rebound, offsetting a 19.23% monthly loss with a 6.10% gain over the past 24 hours. Market activity and technical charts continue to support a bullish outlook.
However, as traders move TIA holdings onto exchanges in preparation for sell-offs, this rally may pause or see temporary setbacks.
Traders favor profit-taking over long-term gains for TIA
Data from Coinglass revealed that TIA began to experience profit-taking activity, as Exchange Netflow has turned positive.
A positive Exchange Netflow indicates that traders are moving TIA from private wallets to exchanges, positioning the asset for sale to capitalize on recent market gains.
At press time, over $277,000 worth of TIA has been transferred to exchanges for potential profit-taking in the last hour. If sold, this influx could limit TIA’s rally.
Source: Coinglass
This trend aligns with a resistance level at 4.525 on the chart, where significant selling pressure could drive the asset’s price down to a target of 4.161. Continued pressure could see TIA fall further to 3.722.
