A seasoned crypto trader is bullish on Celestia (TIA), the native token of a modular blockchain project. They believe TIA is showing signs of a significant price increase.
A Bottoming-Out Pattern?
The trader, known as The Flow Horse, noted on Telegram that TIA has formed a classic bottoming pattern over the past six months. They see this, along with recent market sentiment, as a positive sign. The trader points out that despite being a relatively new and innovative project, TIA has been largely ignored recently, even after a period of negative sentiment fueled by commentary from venture capitalist Chris Burniske. This, combined with the six-month price stability at current levels, makes it an attractive potential investment, according to the trader.
Potential Dip Before the Rise?
However, The Flow Horse cautions that TIA might dip to around $4 before any significant upward movement. They suggest this dip could be a buying opportunity, aligning with a large buy order reportedly placed at that price point. While this potential dip represents a 20% drop from the current price, the trader remains optimistic about TIA’s long-term prospects.
Burniske Remains Bullish
It’s worth noting that Burniske himself previously predicted TIA would be a top-performing altcoin this cycle and recently reiterated his bullish stance, indicating he’s still buying.
Disclaimer: This information is for general knowledge and discussion only and does not constitute investment advice. Always conduct thorough research and consider your own risk tolerance before making any investment decisions.
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