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:
- 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.
- As a result, despite being new and innovative, it has been mostly disregarded.
- 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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