These Altcoins Aim to Recover 50% of Their Losses This Month After Initiating a 20% Rise
The post These Altcoins Aim to Recover 50% of Their Losses This Month After Initiating a 20% Rise appeared first on Coinpedia Fintech News
Although the Bitcoin price has displayed some weakness in the recent past, the values appear to have stabilised within a range. This has also impacted the second-largest token, Ethereum, which has managed to hold above $3000 as bears remain passive.
As the ETH price displays strength, the Ethereum-based tokens and some of the other altcoins like Celestia (TIA) & Sei (SEI) show huge potential to remain elevated throughout the week. Moreover, if they succeed in closing the weekly trade on a bullish note, the end of the month may witness a huge price action.
Celestia (TIA) Price Analysis
- After bottoming out hard, the TIA price has triggered a rebound after fighting the bearish activity
- The token is not expected to print huge bullish candles hereafter but maintain an ascending consolidation
- The DMI suggests a trend reversal which has been initiated could be intensified as the +Di & -Di are due for a bullish crossover but the ADX is close to initiating a plunge
- The volume has risen, indicating growing trading activity, which may keep up the volatility
- Therefore, the TIA price is expected to maintain an ascending consolidation to rise above the double-digit figure and reach the upper resistance at $11
- The SEI price has triggered a strong rebound after hitting the lower support of the falling wedge
- The RSI is about to rise above the descending trend line, which has been acting as a strong support since the beginning of the year
- This suggests the price could keep up a strong elevated trend and reach the upper resistance zone between $0.43 and $0.45
- The token may face a minor pullback and remain consolidated for a while, followed by a bullish breakout towards the upper initial target close to $0.6, surpassing $0.58.