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 Stream Horse tells his Telegram channel that Celestia (TIA) could also be gearing up for a breakout after forming a basic bottoming sample over the past six months.
“I discover TIA very fascinating proper now. For just a few causes:
- There gave the impression to be a serious capitulation of feelings on it over the previous couple of days, peaking in the course of 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 foul space to construct a place in the event you anticipate this market to proceed to work the best way it does.”
Nonetheless, he warns that TIA might first dip to the $4 degree earlier than coming into an uptrend.
“Personally, I feel this construction begs for the spill under 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 take into account, if that got here, it could be a 20% haircut. That is simply an asset I need to preserve tabs on.”
In September, Burniske doubled down on his prediction that TIA can be a top-performing altcoin this cycle and said he was nonetheless loading up on TIA tokens, anticipating a large 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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