Jul 14, 2024 12:05
The Celestia (TIA) token has suffered one of the worst price crashes following Bitcoins decline, falling from as high as $20 to as low as $5 before a brief recovery. However, this crash has not deterred bulls, who believe that this altcoin is set to achieve great things in the market. Celestia Could Explode 2,750% To $188 A recent analysis posted by crypto analyst House Of Crypto Kings has caught the attention of the Celestia community. In the post, the crypto analyst maps out a rather impressive path for the coin to rally more than 2,700% and reach brand new all-time highs. Related Reading: Spot Ethereum ETFs FOMO: Tron Founder Justin Sun Drops $5 Million On ETH To start out, the crypto analyst lauds the Celestia token for its utility that spans various use cases across the ecosystem. Some of these includes fee payments, staking for rewards, as well as promoting data availability and validation. However, moving to the meat of the analysis, the crypto analyst points out that the altcoin is still holding strong support at the $4.9 level. This was demonstrated in the latest crash this week, where TIA held strong at $4.9 and subsequently bounced above this level. This means that $4.9 is the level to hold if the rally is to continue. Furthermore, the crypto analyst points to the approval of Spot Ethereum ETFs starting an altcoin rally, something that would extend to prominent players like Celestia. Historically, new projects introduced shortly before a bull market often experience significant rallies, the analyst said. We anticipate notable volatility in Q4 2024 and Q1 2025, presenting an excellent opportunity for TIAUSD to surge. In the event of a surge, the analyst sets two prominent targets for the price, which are $80.2 and $188. On the lower end of this, the price would have to rise 1,100% from its current $6.6 level. While for the latter, the price would have to rise 2,750% to achieve it. Exiting TIA At The Right Time The crypto analysts prediction coming to pass would mean that Celestia investors are in for a lot of gains in the bull market. However, knowing when to exit a coin is just as important as knowing when to enter in order to secure profits. Related Reading: Forbes Says Shiba Inu Price Will Rise 1,700% To Reach $0.0003 ATH, Heres When Given this, the analyst tells Celestia investors that they should be looking to exit their positions sometime between March and August 11 in 2025. This is because this is when they expect the top of the bull market cycle to take place and the altcoin season to come to an end. On the bearish side, however, the analyst explains that if TIA fails to maintain the $4.9 support mentioned above, then the price could break down to the next critical support around $3.6. Nevertheless, the analyst expects this to be a key level from which a bounce is highly probable, given the upcoming significant events and the anticipated approval of Ethereum ETFs. Featured image created with Dall.E, chart from Tradingview.com
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