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Home»Crypto»This Layer-1 Altcoin Looks ‘Interesting’ After Forming Classic Bottom Structure, According to Veteran Trader
Crypto

This Layer-1 Altcoin Looks ‘Interesting’ After Forming Classic Bottom Structure, According to Veteran Trader

January 23, 2025No Comments2 Mins Read
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A seasoned trader renowned for making accurate crypto predictions believes that the native token of a modular blockchain project is poised for a bullish trend.

Known as The Flow Horse, this trader shared on his Telegram channel that Celestia (TIA) could be on the verge of a breakout after forming a classic bottoming pattern over the past six months.

“I find TIA very intriguing at the moment for several reasons:

  1. There appears to have been a significant emotional capitulation in the past few days, particularly when venture capitalist Chris Burniske was targeted on crypto Twitter regarding his stance on TIA.
  2. As a result, despite being new and innovative, it has been mostly disregarded.
  3. It has been trading at the same low level for six months. This could be a good position to accumulate if you believe the market will continue to behave as it has.”

However, The Flow Horse cautions that TIA might experience a dip to the $4 level before embarking on an upward trend.

“In my opinion, the current structure suggests a potential drop below those lows followed by a rebound, which coincides with a significant buy order placed at around $4. It’s something to monitor nonetheless. But bear in mind, if that scenario unfolds, it would entail a 20% decline. This is a token I am keeping a close eye on.”

In September, Burniske reiterated his belief that TIA would emerge as one of the top-performing altcoins in this cycle and mentioned that he was continuing to accumulate TIA tokens in anticipation of a substantial recovery.

As of now, TIA is trading at $4.67, marking a 5.1% decrease in the last 24 hours.

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Generated Image: Midjourney

Altcoin Bottom Classic Forming Interesting Layer1 Structure Trader veteran
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