Last year and the first half of 2023, we’ve seen many cryptocurrencies perform airdrops. New alternative coins (altcoins) were launched, but they failed to achieve the expected gains due to the lack of a general bullish trend in the market. However, there were altcoins that hit the market at the right time in the last few months and found success with investors. One of these was TIA Coin.
Cryptocurrencies like ADA and AVAX showed positive performance despite Bitcoin‘s decline. But the case of TIA Coin was very different, and it reached an all-time high level. TIA Coin set an all-time high (ATH) of $12.47 today, after navigating through tough paths. It started a rapid ascent from $2.43 on November 10th.
It caught everyone’s attention by breaking away from support until November 27th. Today, popular crypto analyst CryptoGodJohn said that TIA Coin could show an impressive rise similar to SOL Coin in the long run. TIA Coin might experience a parabolic rally reminiscent of SOL Coin’s movement at the beginning of 2021.
Another analyst, CryptoKnight, predicts that the price could even rise to the $20 region. However, the negativity in the Bitcoin price and the Federal Reserve meeting scheduled for tomorrow could weaken the momentum in altcoins in the coming hours.
Despite TIA Coin’s relatively short history, Elliott Wave Theory can be applied to its chart for price direction. The most likely movement shows a fluctuating rise since November. Currently, the price is in the fifth and final wave, similar to BTC. The six-hour chart supports the rise with the RSI being above the neutral zone, indicating that we might see a higher peak in this last wave.