TIA reached its peak after going online? Short positions won a great victory!

On October 31, the modular blockchain network Celestia announced the launch of its mainnet. Subsequently, first-tier exchanges such as Binance, OKX, and Coinbase launched trading of its token TIA. Since Celestia had previously launched the Genesis airdrop of the token TIA, becoming the largest airdrop project in recent times, it has also attracted much attention from the market.

After TIA was launched on the exchange, it was sought after by a large number of users. Today, it once surged to around $2.87, but the price has begun to fall. CoinDaily immediately released an analysis of TIA and gave a suggestion to short at $2.77. According to the quote of Binance Exchange, TIA's price just reached a low of $2.42 during the decline, and the highest profit of short orders has reached 12.6%.

According to CoinDaily analysis, Celestia, as a leader in the modular blockchain track, has no problems with its project qualifications and a strong investment background, making it a good project in the long run. However, when the tokens were first listed on the exchange, there were too many chips to be sold, especially since many airdrop beneficiaries received the tokens at no cost, so the early selling pressure was relatively large.

In addition, the project has been very popular recently and has been sought after by retail investors in the secondary market. It has also been listed on major exchanges such as Binance and Coinbase, which has basically exhausted the previous positive factors. The current hype in the secondary market is very fanatical, which is also a risk that needs to be paid attention to.

From a technical perspective, there is a high probability that a top divergence will form at the 15-minute level, and a short-selling signal will appear.

In terms of futures, the funding rates of major exchanges are relatively high, and the short-term bullish sentiment is relatively high.

Since the Celestia project itself has good qualifications and its current market value is not high, CoinDaily sets its mid-term target price at $3.5. However, due to the strong speculation in the secondary market in the short term, the price may not continue to rise, but will first enter a shock-washing mode, and the valuation range within the week is set at 2.4-2.85.