This Layer-1 Altcoin Looks ‘Interesting’ After Forming Classic Bottom Structure, According to Veteran Trader
A veteran trader known for timely crypto calls says he’s leaning bullish on the native token of a modular blockchain project.
Pseudonymous trader The Flow Horse tells his Telegram channel that Celestia ( TIA ) may be gearing up for a breakout after forming a classic bottoming pattern during the last six months.
“I find TIA very interesting right now. For a few reasons:
- There seemed to be a major capitulation of emotions on it over the last few days, peaking during the period that [venture capitalist] Chris Burniske was the target of CT (crypto Twitter) over his position on it.
- Because of that it has become something that while new and novel, has been largely written off.
- It is bouncing along the same low now for six months. Contextually not a bad area to build a position if you expect this market to continue to work the way it does.”
However, he warns that TIA may first dip to the $4 level before entering an uptrend.
“Personally, I think this structure begs for the spill below all those lows that gets bought back up, which actually lines up with a large bid placed around $4. So something to keep track of never the less. But keep in mind, if that came, it would be a 20% haircut. This is just an asset I want to keep tabs on.”
In September, Burniske doubled down on his prediction that TIA would be a top-performing altcoin this cycle and said he was still loading up on TIA tokens, anticipating a massive recovery at some point.
TIA is trading for $4.67 at time of writing, down 5.1% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on X , Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meta greenlights up to 3x salary increment for executives after staff lay off
Share link:In this post: According to reports, Meta has approved a new bonus plan that will allow executives to earn bonuses of up to 200% of their base salary. The bonus plan comes not long after Meta announced plans to reduce its workforce by dismissing up to 4000 low-performing employees. Some employees affected by the layoffs have expressed surprise, citing recent positive performance reviews.
Why XRP and ADA Remain Top Cryptos – Novogratz Explains

Crypto Market Faces Weak Demand, Needs Trump Initiatives to Kick In, JPMorgan Says

Survey says Australian crypto holders divided on Trump effect

Trending news
MoreCrypto prices
More








