A widely followed analyst is suddenly turning bullish on the native token of the modular blockchain network.
The analyst pseudonymously known as Pentoshi tells his 824,900 followers on the social media platform X that Celestia (TIA) may soar about 100% from its current value.
[adinserter block="1"]According to the trader, TIA has kicked off its uptrend after taking out its resistance at around $7.00.
“TIA update: accelerate (this week, hopefully, probably). Clear trend change. Clear invalidation if closes back within previous range.”
Looking at his chart, the analyst suggests that TIA may reclaim $11.74 as support and head toward $15.34.
TIA is trading for $7.66 at time of writing.
Next up, the analyst is identifying a doji bottom in Ethereum’s (ETH) Bitcoin pair (ETH/BTC) on the weekly chart.
The doji candlestick pattern, which indicates a small trading range and a nearly equal opening and closing price for a financial asset, is used to identify potential market reversals based on prior price action.
“Very highly requested chart, ETH versus BTC. Quite possible the low is in here and that at least a short-term reversal is coming. Coming into a pretty important historical spot, while at the same time having a nice weekly doji at those lows. Good confluence there for now, and two things that I like in a trade.”
ETH/BTC is trading for 0.03671 BTC ($3,492) at time of writing, up 6.37% in the last 24 hours.
Lastly, the analyst suggests that altseason, when altcoins outperform Bitcoin, may have just arrived.
He shares a chart of the Bitcoin Dominance (BTC.D), which has suddenly dropped out of the 60% range. The BTC.D index tracks how much of the total crypto market cap belongs to Bitcoin. A bearish BTC.D chart suggests that altcoins are about to outshine Bitcoin.
“BTC versus alts. This could very well be the true start of altseason. While we certainly will see big dips along the way, they are for buying, for now…
Looks a lot more convincing [now] and our large/mid caps have made some decent moves in terms of both USD and BTC pairs.”
The BTC.D is hovering at 58.64% at time of writing.
Follow us on X, Facebook and Telegram
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
