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COINTURK NEWS > Altcoin News > Analyst Highlights Potential Growth for Celestia’s TIA Token
Altcoin NewsCryptocurrency News

Analyst Highlights Potential Growth for Celestia’s TIA Token

In Brief

  • Pentoshi believes TIA has significant growth potential.

  • BTC Dominance drop may boost altcoins' performance.

  • Positive trends in ETH/BTC support bullish market expectations.

Fatih Uçar
Fatih Uçar 6 months ago
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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 CelestiaETH/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.

“TIA update: expected to accelerate (this week, hopefully, probably). Clear trend change. It will be invalidated if it closes back into the previous range.”

ETH/BTC Pair and Doji Formation

The analyst noted a doji bottom formation for Ethereum $2,513 against Bitcoin $108,108 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.

“Highly sought-after chart, ETH/BTC. The likelihood of a decline here is high, and at least a short-term reversal is coming. Entering a historically significant point, there is also a nice weekly doji at the lows. Good alignment for now and two things I love in trading.”

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.

“BTC vs altcoins. This could be the real start of altcoin season. We will definitely see significant declines along the way, but these are currently buying opportunities…”

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.

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Fatih Uçar 27 November, 2024 - 1:43 pm 27 November, 2024 - 1:43 pm
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