A well-known analyst, going by the pseudonym Pentoshi, has recently turned bullish on Celestia (TIA), the native token of a modular blockchain network. With a significant following of 824,900 followers on the social media platform X, Pentoshi has predicted that TIA could experience a surge of up to 100% from its current value.
Pentoshi pointed out that TIA has initiated an uptrend after surpassing its resistance level at around $7.00. He shared a chart indicating that TIA might establish $11.74 as a support level and potentially reach $15.34 in the near future. As of the time of writing, TIA is trading at $7.66.
In addition to his TIA analysis, Pentoshi also identified a doji bottom in Ethereum’s Bitcoin pair (ETH/BTC) on the weekly chart. The doji candlestick pattern, which signifies a small trading range and nearly equal opening and closing prices for an asset, suggests a possible market reversal based on past price movements. Pentoshi believes that a short-term reversal could be on the horizon for ETH/BTC, which is currently trading at 0.03671 BTC ($3,492) and has seen a 6.37% increase in the last 24 hours.
Furthermore, Pentoshi hinted at the arrival of altseason, a period when alternative cryptocurrencies outperform Bitcoin. He shared a chart of the Bitcoin Dominance (BTC.D) index, which has dropped below the 60% mark. A declining BTC.D index typically indicates that altcoins are poised to outshine Bitcoin in the market. At the time of writing, the BTC.D is at 58.64%.
Overall, Pentoshi’s analysis suggests positive movements in the cryptocurrency market, with potential opportunities for investors to capitalize on the emerging trends. As always, it is essential for investors to conduct thorough research and consider their risk tolerance before making any investment decisions.