A widely followed analyst and trader believes one altcoin project that’s been soaring will remain in an uptrend for a while longer.
The analyst pseudonymously known as The Flow Horse tells his 187,600 followers on the social media platform X that Celestia (TIA) could still move higher.
“Buying TIA as long as we hold the volume weighted average price since inception around $5.
While I think this has a future punishing re-accumulation period, I think there is a play higher between now and then.
Fast horse plus attention grabber should remain strong longer.”
Celestia, a blockchain built to enable anyone to launch their own decentralized network at minimal cost, is trading for $5.62 at time of writing, up more than 136% in the last two weeks.
The trader also weighs in on Binance’s settlement with US regulators and the subsequent resignation of its CEO and founder, Changpeng Zhao.
He says that with Binance effectively neutralized in the US, the giants of traditional finance (TradFi) will now start moving into the crypto space at a more aggressive pace.
“This is not about price. This is about how obvious it is that this kind of narrative of ‘We are going to play ball now because the boogieman is out’ was to see coming.
Slowly and then all at once…
Not saying ‘It’s starting’ like Bitcoin is going to just go up from here. But [the] bigger picture of TradFi taking over due to ‘the bad guys’ being taken out was an easy narrative to spot.”
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The post This ‘Fast Horse’ Altcoin Should Remain Strong for Longer, Says Top Crypto Trader appeared first on The Daily Hodl.