A veteran dealer recognized for well timed crypto calls says he’s leaning bullish on the native token of a modular blockchain mission.
Pseudonymous dealer The Stream Horse tells his Telegram channel that Celestia (TIA) could also be gearing up for a breakout after forming a basic bottoming sample over the last six months.
“I discover TIA very fascinating proper now. For just a few causes:
There appeared to be a significant capitulation of feelings on it over the previous couple of days, peaking in the course of the interval that [venture capitalist] Chris Burniske was the goal of CT (crypto Twitter) over his place on it.
Due to that it has turn out to be one thing that whereas new and novel, has been largely written off.
It’s bouncing alongside the identical low now for six months. Contextually not a nasty space to construct a place in case you anticipate this market to proceed to work the best way it does.”
Nonetheless, he warns that TIA could first dip to the $4 stage earlier than coming into an uptrend.
“Personally, I feel this construction begs for the spill beneath all these lows that will get purchased again up, which really traces up with a big bid positioned round $4. So one thing to maintain observe of by no means the much less. However be mindful, if that got here, it will be a 20% haircut. That is simply an asset I need to preserve tabs on.”
In September, Burniske doubled down on his prediction that TIA could be a top-performing altcoin this cycle and stated he was nonetheless loading up on TIA tokens, anticipating a large restoration in some unspecified time in the future.
TIA is buying and selling for $4.67 at time of writing, down 5.1% within the final 24 hours.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Worth Motion
Comply with us on X, Fb and Telegram
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses it’s possible you’ll incur are your accountability. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please word that The Every day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney
