According to the Envato rules, the item price has to be stable in the last 30 days for the discount, considering that, the item price was 119$ after 20th of October.
The price of the Kalium 3 theme was increased from $69 to $119 on September 17, 2024. This change is legitimate and complies with Envato’s policies. Additionally, Envato’s system prevents participation in marketing campaigns if the item price has not remained unchanged for at least 30 days prior.
The pricing you saw might have been from 30 days ago. The Envato discount tool allows setting a discount only after the price has remained the same for at least 30 days. If the author plans to offer a discount on an item, the price must stay unchanged for 30 days before applying a discount.
The author @Laborator has clarified when the price was adjusted. They have the right to set the price they prefer, as they are aware of the effort, cost, and time required to develop and update these items.