Price Analysis
  • Sahana Vibhute
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    A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

    • 1 minute read

    These Altcoins Aim to Recover 50% of Their Losses This Month After Initiating a 20% Riseย 

    Story Highlights
    • Altcoins are gaining strength as Ethereum demonstrates stability, being self-assured of the upcoming price action

    • While some have risen above the bearish trap, others, like Celestia (TIA) & Sei (SEI), have triggered a double-digit upswing

    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

    Sei (SEI) Price Analysis

    • 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. 
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