A well-known analyst shared positive insights about Celestia’s native token, TIA. Pentoshi, whose real name remains undisclosed, suggested to his 824,900 followers on the social media platform X that TIA could potentially see an increase of approximately 100% from its current value.
Contents
Growth Potential of Celestia
ETH/BTC Pair and Doji Formation
Growth Potential of Celestia
According to trade analysis, TIA breaking past the resistance level of around $7.00 could signal a bullish trend. Pentoshi emphasized that TIA’s trend change is clear, but it could be invalidated if the price returns to the previous range.
ETH/BTC Pair and Doji Formation
The analyst noted a doji bottom formation for Ethereum
$
3,410
against Bitcoin
$
93,467
on weekly charts. The doji formation indicates situations where the opening and closing prices of a financial asset are close, resulting in a small trading range.
The analyst also highlighted that Bitcoin Dominance (BTC.D) has suddenly dropped below 60%, suggesting that altcoins might begin to outperform Bitcoin. The BTC.D index tracks the portion of the total
cryptocurrency market
cap that belongs to Bitcoin, and a decrease in this ratio indicates potential for altcoins to come to the forefront.
Currently, the BTC.D index stands at 58.64%, increasing the potential for altcoins to strengthen against Bitcoin and raising interest among traders for altcoin investments. According to the analyst’s insights, Celestia’s TIA token could hold support at around $11.74 and move towards a target of $15.34. As of the time of writing, TIA is trading at $7.66.
The ETH/BTC pair is at $3,492, having risen by 6.37% in the last 24 hours, continuing its upward trend. These developments contribute to a positive outlook in the market.
The analyst’s projections indicate that Celestia’s TIA token, the technical indicators of the ETH/BTC pair, and the decline in Bitcoin Dominance suggest potential upward movements in the
crypto market
. Traders may continue to monitor these indicators to follow market trends.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Analyst Identifies Promising Growth Prospects for Celestia
