A veteran dealer recognized for well timed crypto calls says he’s leaning bullish on the native token of a modular blockchain challenge.
Pseudonymous dealer The Move 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 attention-grabbing proper now. For a number of causes:
- There appeared to be a serious capitulation of feelings on it over the previous few days, peaking through the interval that [venture capitalist] Chris Burniske was the goal of CT (crypto Twitter) over his place on it.
- Due to that it has develop into 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 when you count on this market to proceed to work the way in which it does.”
Nevertheless, he warns that TIA could first dip to the $4 degree earlier than getting into an uptrend.
“Personally, I feel this construction begs for the spill beneath all these lows that will get purchased again up, which truly traces up with a big bid positioned round $4. So one thing to maintain monitor of by no means the much less. However remember, if that got here, it will be a 20% haircut. That is simply an asset I need to hold tabs on.”
In September, Burniske doubled down on his prediction that TIA could be a top-performing altcoin this cycle and mentioned he was nonetheless loading up on TIA tokens, anticipating an enormous 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.
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