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A veteran dealer recognized for well timed crypto calls says he’s leaning bullish on the native token of a modular blockchain mission.
Pseudonymous dealer The Move Horse tells his Telegram channel that Celestia (TIA) could also be gearing up for a breakout after forming a traditional bottoming sample over the past six months.
“I discover TIA very attention-grabbing proper now. For a number of causes:
- There gave the impression to be a significant capitulation of feelings on it over the previous couple of days, peaking throughout the interval that [venture capitalist] Chris Burniske was the goal of CT (crypto Twitter) over his place on it.
- Due to that it has turn out to be one thing that whereas new and novel, has been largely written off.
- It’s bouncing alongside the identical low now for six months. Contextually not a foul space to construct a place in the event you count on this market to proceed to work the way in which it does.”
Nevertheless, he warns that TIA might first dip to the $4 stage earlier than getting into an uptrend.
“Personally, I feel this construction begs for the spill under all these lows that will get purchased again up, which really traces up with a big bid positioned round $4. So one thing to maintain observe of by no means the much less. However consider, if that got here, it might be a 20% haircut. That is simply an asset I wish to maintain tabs on.”
In September, Burniske doubled down on his prediction that TIA could be a top-performing altcoin this cycle and said he was nonetheless loading up on TIA tokens, anticipating a large restoration in some unspecified time in the future.
TIA is buying and selling for $4.67 at time of writing, down 5.1% within the final 24 hours.
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