Celestia’s v9.0.4 network upgrade on July 1 sparked fresh market interest, with TIA gaining 10.12% in 24 hours to around $0.4060. The blockchain completed the upgrade at block height 11,771,698, and exchanges briefly paused deposits and withdrawals without disrupting trading. Daily volume surged 102.19% to $59.5 million, reflecting renewed participation rather than fading speculation.
Futures sellers stay active despite spot rally
Despite the spot market excitement, derivatives positioning painted a cautious picture. The 90-day Futures Taker CVD remained seller-dominant, indicating traders kept executing sell orders. This divergence suggested spot demand absorbed much of the selling pressure, improving market structure. However, persistent bearish conviction in futures meant the rally wasn’t fully embraced in derivatives.
Leveraged bulls show confidence through funding
Even with aggressive sell orders in futures, leveraged bulls held on. The OI-Weighted Funding Rate stayed positive at about 0.0057%, showing long-position holders continued paying funding to maintain exposure. This reflected sustained bullish positioning rather than widespread liquidations. The contrast between spot and futures activity created a tug-of-war between immediate order flow and broader conviction.
Technical setup approaches key resistance
TIA approached a decisive technical level after forming a cup-and-handle pattern beneath the $0.4045 neckline. Buyers pushed price back toward this resistance after recovering from June lows near $0.30. The Relative Strength Index climbed to 56.90, with its moving average near 51.16, indicating strengthening momentum without overbought conditions. Price held above $0.3551 support, preserving the bullish structure. A confirmed daily close above $0.4045 would likely validate the pattern and expose $0.5000 as the next major resistance. However, the neckline remained the defining barrier, as repeated rejections had previously interrupted upward moves.
