A veteran dealer recognized for well timed crypto calls says he’s leaning bullish on the native token of a modular blockchain venture.
Pseudonymous dealer The Movement Horse tells his Telegram channel that Celestia (TIA) could also be gearing up for a breakout after forming a traditional bottoming sample over the last six months.
“I discover TIA very fascinating proper now. For a number of causes:
- There gave the impression to be a serious capitulation of feelings on it over the previous few days, peaking throughout the interval that [venture capitalist] Chris Burniske was the goal of CT (crypto Twitter) over his place on it.
- Due to that it has change 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 for those who count on this market to proceed to work the best way it does.”
Nevertheless, he warns that TIA could first dip to the $4 degree earlier than coming into an uptrend.
“Personally, I believe this construction begs for the spill under 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 monitor 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 wish 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 an enormous restoration sooner or later.
TIA is buying and selling for $4.67 at time of writing, down 5.1% within the final 24 hours.
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