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.
You can follow our news on
Telegram
,
Facebook
,
Twitter
&
Coinmarketcap
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.
