Analysts are constantly scrutinizing market trends and patterns to predict future price movements. One such analyst, known as “CryptoBullet” on X, has drawn an intriguing path for Celestia’s native token, TIA, to potentially reach a staggering value of $130. However, this ambitious target comes with specific prerequisites.
According to CryptoBullet’s analysis of TIA’s one-week chart, the token is expected to undergo a period of consolidation below the $20 high. This consolidation phase, often referred to as “re-accumulation” in trading parlance, serves as a crucial step before embarking on a more substantial upward trajectory.
During this re-accumulation period, CryptoBullet speculates that TIA might form a “giant Symmetric Triangle” pattern, a technical analysis term that describes a period of tightening price action within a triangular shape. This pattern is typically interpreted as a continuation signal, suggesting that once the price breaks out from the triangle, it will resume the prevailing trend.
If CryptoBullet’s analysis holds true, TIA must successfully navigate through this consolidation phase before being “ready to go much higher,” as the analyst puts it. The analyst has identified two macro target levels: $70 as the first major hurdle, and an ambitious $130 as the ultimate target.
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Show more +It’s important to note that technical analysis, while a valuable tool, is not an exact science. Market dynamics can be influenced by a multitude of factors, including news events, regulatory changes, and overall market sentiment. As such, investors are advised to conduct thorough research and exercise caution when making investment decisions based on any single analysis or prediction.
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