A well-known analyst, whose real name remains undisclosed, shared positive insights about Celestia’s native token, TIA. In a post on the social media platform X, the analyst suggested that TIA could potentially experience a 100% increase in value.
Contents
1. Growth Potential of Celestia
2. ETH/BTC Pair and Doji Formation
Growth Potential of Celestia
Trade analysis indicates that if TIA surpasses the resistance level of approximately $7.00, it could indicate a bullish trend. The analyst emphasized that TIA’s trend change is evident, but it could be invalidated if the price returns to the previous range.
ETH/BTC Pair and Doji Formation
The analyst observed a doji bottom formation for Ethereum against Bitcoin on weekly charts. This formation occurs when the opening and closing prices of a financial asset are close, resulting in a small trading range.
The analyst also pointed out that Bitcoin Dominance (BTC.D) has suddenly dropped below 60%, suggesting that altcoins may start 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 gain prominence.
Currently, the BTC.D index stands at 58.64%, increasing the potential for altcoins to strengthen against Bitcoin and generating interest among traders for altcoin investments. According to the analyst’s insights, Celestia’s TIA token could find support around $11.74 and aim for a target of $15.34. At the time of writing, TIA is trading at $7.66.
The ETH/BTC pair is currently priced at $3,492, experiencing a 6.37% increase in the last 24 hours, indicating a continued upward trend. These developments contribute to a positive market outlook.
The analyst’s projections suggest potential upward movements in the crypto market, based on Celestia’s TIA token, the technical indicators of the ETH/BTC pair, and the decline in Bitcoin Dominance. Traders are advised to monitor these indicators to stay informed about market trends.
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Disclaimer: The information provided in this article is not investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
