Crypto Analyst Altcoin Sherpa Predicts Celestia (TIA) Will Collapse in Price, Says He's Not Accumulating Fetch.ai (FET)
- WBOYOriginal
- 2024-09-18 12:19:15895browse
Pseudonymous analyst Altcoin Sherpa tells his 222,800 followers on the social media platform Twitter that TIA will plunge to below $1 eventually
A popular crypto analyst is sharing his thoughts on the future price trajectory of four digital assets: Celestia (TIA), Fetch.ai (FET), Sui (SUI) and IO (IO).
Pseudonymous analyst Altcoin Sherpa tells his 222,800 followers on the social media platform X that TIA will eventually drop to below $1, although he adds that the asset may experience some “random short squeezes” before that.
“Psyops would be to pump price going into unlocks so all early shorters get rekt; plebs buy this thing and chase, and seed investors slowly get to dump. Wouldn’t hold this thing for a long time, but I’d probably lean towards longing it in the short term? Probabaly grab an entry around 4.60ish-4.40?”
TIA is preparing to unlock 175.74 million tokens on October 31st, an event that has left market participants guessing which way the price will move. A token unlock adds more coins to the circulating supply, which could put downward pressure on the price if early investors decide to sell their holdings.
TIA is valued at $4.65 at the time of writing, a fraction lower over the past 24 hours.
Altcoin Sherpa also says he’s not currently buying FET, the native token of the Artificial Superintelligence Alliance, an artificial intelligence (AI)-focused project.
“I think looks good but I am not personally buying here. S/R (support/resistance) level 200-day EMA (expontential moving average) that’s acted as resistance. Happy to buy this higher though because breaking the $1.48 area would mean a higher high/shift in trend.”
FET is trading at $1.26 at the time of writing and is down more than 2% in the past 24 hours.
Conversely, the analyst thinks layer-1 blockchain Sui (SUI) is a “decent one to trade.”
“Don’t think much about it long term given unlocks/everything else but in the mid-term it looks like you should only be longing this thing. Higher low 1-day EMAs all strong.”
SUI is valued at $1.02 at the time of writing and is down 1.74% in the past 24 hours.
Altcoin Sherpa also notes that he accumulated IO, the native token of the decentralized computing network IO.NET, at $1.76. The trader shares a chart suggesting that IO has flipped a former resistance level into support.
IO is trading at $1.73 at the time of writing.
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