This top-tier altcoin looks “interesting” after the classic bottom structure has formed, according to a veteran trader
A veteran trader known for timely cryptocurrency calls says he is bullish on the blockchain benchmark project’s native token.
The merchant goes by the alias The Flow Horse He tells His Telegram channel suggests that Celestia (TIA) may be preparing for a breakout after forming a classic bottom pattern over the past six months.
“I find TIA very interesting at the moment. For several reasons:
- There seems to be a significant surrender of emotions over the past few days, reaching a peak during the period during which… [venture capitalist] Chris Burniske was a target of CT (Crypto Twitter) because of his stance on it.
- Because of this, it has become something new and fresh, but has largely been written off.
- It has been bouncing at the same low level now for six months. Contextually, it’s not a bad area to build a position if you expect this market to continue to work the way it does.”
However, he warns that the TIA may first fall to the $4 level before entering an uptrend.
“Personally, I think this structure calls for a leak below those lows that are bought back, which actually corresponds to a large supply of about $4. So something that should never be tracked. But keep in mind, if that happens, it will be That’s like a 20% haircut. That’s just an asset I want to keep tabs on.”
In September, Burniske doubled down on his prediction that TIA would be the best-performing altcoin this cycle, and said he was still loading TIA tokens, anticipating a massive rebound at some point.
TIA is trading for $4.67 at the time of writing, down 5.1% over the past 24 hours.
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