Celestia’s v9.0.4 network upgrade sparked fresh market interest as investors returned following the successful rollout on the 1st of July.
The blockchain completed the upgrade at block height 11,771,698, while exchanges briefly paused deposits and withdrawals without disrupting trading activity.
As a result, Celestia [TIA] gained 10.12% over the past 24 hours and traded around $0.4060 during the move.
Trading activity also strengthened considerably, with daily volume climbing 102.19% to $59.5 million. This increase reflected renewed participation instead of fading speculation.
Although excitement surrounded the upgrade, derivatives positioning still painted a more cautious picture, creating an interesting contrast between spot participation and futures activity.
Why are futures sellers still active on TIA?
Despite the sharp increase in Spot activity, Futures traders continued favoring aggressive sell orders throughout the recovery.
The 90-day Futures Taker CVD remained firmly seller-dominant, indicating market participants repeatedly executed sell orders instead of lifting offers.
That behavior suggested derivatives traders had not fully embraced the rally even as buyers returned to the spot market.
However, TIA still maintained its gains, implying spot demand absorbed much of the selling pressure instead of allowing futures activity to dictate price direction. That divergence suggested improving market structure, as stronger Spot participation often provides healthier support than leveraged buying alone.
Even so, persistent seller dominance in futures indicated bearish conviction had not disappeared completely.
Source: CryptoQuant
Why are bulls still holding on?
Even though futures traders continued submitting aggressive sell orders, leveraged bulls retained confidence through the funding market.
The OI-Weighted Funding Rate remained positive and reached approximately 0.0057%, showing long-position holders still paid funding to maintain exposure.
The reading reflected sustained bullish positioning rather than widespread liquidation among leveraged traders.
Unlike the Futures Taker CVD, which measured executed market orders, the OI-Weighted Funding Rate reflected traders’ willingness to maintain directional exposure.
Together, the indicators painted mixed sentiment rather than a single market narrative.
Buyers continued defending long exposure while sellers dominated execution flow, creating a tug-of-war between conviction and immediate order flow.
Source: CoinGlass
Neckline test takes center stage
Celestia [TIA] approached a decisive technical level after completing a developing cup-and-handle formation beneath the $0.4045 neckline.
Buyers had already pushed price back toward this resistance after recovering from the June lows near $0.30, strengthening the broader recovery structure.
Meanwhile, the handle developed within a falling channel before the price broke above its upper boundary, reinforcing the improving chart structure.
The Relative Strength Index (RSI) climbed to 56.90, while its moving average remained near 51.16, indicating strengthening buying momentum without reaching overbought conditions.
Price also held comfortably above the $0.3551 support, preserving the bullish structure established during the rebound.
Even so, the neckline remained the defining barrier because repeated rejection had previously interrupted upward advances.
A confirmed daily close above $0.4045 would likely validate the pattern and expose $0.5000 as the next major resistance.
Source: TradingView
Final Summary
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Celestia’s upgrade boosted spot demand, while futures traders continued selling into the rally.
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Positive funding and improving chart structure kept breakout hopes alive above key neckline resistance.
