The Celestia v9.0.4 network upgrade has sparked new interest in the market with investors returning after the successful rollout on July 1.
The blockchain completed the upgrade to block height 11,771,698, while exchanges briefly paused deposits and withdrawals without disrupting trading activity.
As a result, Celestia (TIA) stock is up 10.12% over the past 24 hours and traded at around $0.4060 on the move.
Trading activity also increased significantly, with daily trading volume increasing by 102.19% to reach $59.5 million. This increase reflected renewed participation rather than the disappearance of speculation.
Although excitement surrounded the upgrade, derivatives positions still paint a more cautious picture, creating an interesting contrast between spot participation and futures activity.
Why are futures sellers still active in TIA?
Despite the sharp increase in spot activity, futures traders continued to favor aggressive sell orders throughout the recovery.
the 90 day CVD futures The seller remained strongly dominant, suggesting that market participants executed sell orders more frequently rather than raising offers.
This behavior suggests that derivatives traders have not fully embraced the rally even as buyers return to the spot market.
However, TIA still maintained its gains, meaning spot demand absorbed much of the selling pressure rather than allowing futures activity to dictate price direction. This difference indicates improved market structure, as stronger spot participation often provides healthier support than leveraged buying alone.
However, the continued seller dominance in futures suggests that the bearish conviction has not completely disappeared.
Why are the bulls still holding on?
Although futures traders continued to place aggressive sell orders, leveraged bulls maintained confidence through the financing market.
OI’s weighted funding rate remained positive and reached around 0.0057%, indicating that long positions are still paying funding to maintain exposure.
The reading reflects a sustained bullish situation rather than a widespread liquidation among leveraged traders.
Unlike the CVD futures index, which measures executed market orders, the OI weighted funding rate reflects traders’ desire to maintain directional exposure.
Together the indicators have painted mixed sentiment rather than a single market narrative.
Buyers continued to defend long exposure while sellers dominated the execution flow, creating a tug of war between conviction and immediate order flow.
The neckline test takes center stage
Celestia (TIA) It approached the crucial technical level after completing a developing cup and handle formation below the neckline at $0.4045.
Buyers had already pushed the price towards this resistance after recovering from the June lows near $0.30, strengthening the broader structure of the recovery.
Meanwhile, the handle developed within a descending channel before the price crossed its upper border, which reinforced the improving chart structure.
The Relative Strength Index (RSI) rose to 56.90, while its moving average remained near 51.16, indicating strengthening buying momentum without reaching overbought conditions.
The price also settled comfortably above the $0.3551 support level, maintaining the bullish structure created during the bounce.
However, the neckline remained the defining barrier as repeated rejections had previously halted the upward advance.
A confirmed daily close above $0.4045 will likely validate the pattern and expose $0.5000 as the next major resistance.
Final summary
- The Celestia upgrade boosted spot demand, while futures traders continued to sell higher.
- Positive financing and improving chart structure kept hopes of a breakout above key neckline resistance alive.
