Cryptocurrency analyst Altcoin Sherpa has raised alarms about the future valuation of Celestia (TIA), suggesting a potential drop below the one-dollar mark. Despite this forecast, he indicates the possibility of brief market volatility before this decline, due to potential short squeeze events. Investors are advised to proceed cautiously as they navigate the unpredictable nature of TIA’s market movements.
Will TIA Experience a Short-Term Rise?
On social media platform X, Sherpa predicted that TIA might experience an initial upswing, driven by distinctive price movements that could catch short sellers off guard. He advises considering short-term long positions, with entry points around $4.60 to $4.40, rather than holding the asset for the long term.
How Will TIA’s Coin Unlocks Affect Its Price?
Celestia plans to release 175.74 million TIA coins on October 31, increasing its circulating supply. This influx could exert downward pressure on TIA’s price due to potential sell-offs by early investors, adding further uncertainty to its market outlook.
Alongside his analysis of TIA, Altcoin Sherpa weighed in on other cryptocurrencies. He remains cautious about accumulating FET from the Artificial Superintelligence Alliance, awaiting a break above $1.48 for a more advantageous entry. However, he views the Layer-1 blockchain Sui (SUI) as poised for trading, recommending medium-term long positions given favorable technical indicators.
Sherpa’s investment strategy also includes accumulating IO tokens from the decentralized computing network IO.NET at $1.76, supported by a chart showing a shift from resistance to support. Key insights include:
- TIA’s anticipated price drop amid upcoming coin release.
- Potential short-term volatility due to short squeeze dynamics.
- Skepticism about FET accumulation until it surpasses $1.48.
- SUI considered trade-ready with strong technical signals.
Navigating the volatile cryptocurrency market requires vigilance, especially in light of expert predictions and forthcoming coin unlocks. Investors are urged to remain cautious and rely on thorough technical analysis and market trend observations to guide their financial decisions.