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
Altcoin Breakout Signals Bullish Momentum Ahead
Altcoins are gearing up for a major breakout as market momentum shifts. Here's what you need to know.Altcoins Set to Surge as Market Momentum BuildsFactors Driving the Altcoin BreakoutWhat to Watch Moving Forward
U.S. Sells Gold Cards for $5M Each—Debt Solution?
The U.S. sold 1,000 gold cards at $5 million each. Can this help reduce the growing national debt crisis?A $5 Billion Gold RushCan It Fix the Debt Crisis?What’s Next?
Jed McCaleb Bets $1B on Space Startup Vast Space
Crypto billionaire Jed McCaleb invests $1B in Vast Space to build the first commercial space station.From Crypto to the CosmosWhat Is Vast Space Planning?Crypto Funding the Final Frontier

Bitcoin Sharpe Ratio Nears “Low Risk” Zone for Entry
Bitcoin’s Sharpe Ratio is nearing the “Low Risk” zone. A prime buying opportunity could be close!Sharpe Ratio Signals Potential Buying WindowWhy Sharpe Ratio Matters for BTCTiming the Next Move

Trending news
MoreCrypto prices
More








