2024

Sherpa

Shiba Inu

Celestia

<p>Crypto is so unpredictable that you never know what will be the next top gainer. Yesterday it was, pretty comfortably, <a href="https://captainaltcoin.com/is-ai-season-back-tao-and-render-prices-among-top-crypto-gainers/" target="_blank" rel="noopener noreferrer nofollow">Bittensor’s TAO,</a> and today it’s Celestia’s TIA.</p>
<p>The TIA price pumped 16% today and it’s now trading around $6.3. However, it’s not all sunshine for TIA, at least based on the most recent tweets from McKenna and Altcoin Sherpa, two very popular crypto traders on X.</p>
<h2 class="wp-block-heading" id="mckenna-s-technical-analysis">McKenna’s Technical Analysis</h2>
<p>McKenna’s chart analysis reveals some interesting insights into TIA’s recent price action. The TIA/USDT pair saw a sharp rise of +24.48%, jumping from $5.35 to $6.66. This indicates strong bullish momentum, though the price has since corrected to around $6.3.</p>
<p>Open interest has spiked significantly, reaching 35.382 million. This usually means more traders are entering the market, which often intensifies the current trend. With the price moving upward, it suggests a strong bullish trend backed by new positions.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24TIA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TIA</a> open interest going parabolic whilst funding is deep in the negative and the first signs of spot buying.<br><br>Should end well for bears. <a href="https://t.co/Hiysh4SE5K" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Hiysh4SE5K</a></p>— McKenna (@Crypto_McKenna) <a href="https://twitter.com/Crypto_McKenna/status/1838346390063263867?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 23, 2024</a>
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<p>The spot volume has also seen a notable increase to 9.9 million. McKenna points out the “first signs of spot buying,” which could be an early indicator of increased buying pressure from traders directly purchasing TIA on exchanges.</p>
<p>Liquidations worth $475,508 happened and this means that traders, especially those holding short positions, are being forced to exit as the price moves higher. This spike in liquidations often indicates that over-leveraged short positions are being squeezed out of the market, potentially driving prices even higher.</p>
<p>Interestingly, the funding rate is deeply negative at -0.0767%. This means short traders are paying long traders to keep their positions open, often occurring when there’s an imbalance with more traders betting against the market. Combined with spot buying and increasing open interest, this negative funding could signal a short squeeze, where prices are pushed higher and short positions are forced to close.</p>
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<h2 class="wp-block-heading" id="altcoin-sherpa-s-fibonacci-analysis">Altcoin Sherpa’s Fibonacci Analysis</h2>
<p>Altcoin Sherpa’s chart focuses on key<a href="https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/fibonacci-retracement" target="_blank" rel="noopener noreferrer nofollow"> Fibonacci retracement levels</a>, which are crucial for identifying potential support and resistance areas. The price recently hit the 0 level at $6.501, corresponding to a high point on the chart. Below this, important retracement levels are at $5.846 (0.236), $5.440 (0.382), $5.112 (0.5), and $4.784 (0.618). These levels could act as support if the price pulls back.</p>
<p>The chart shows Exponential Moving Averages (EMAs) stacked in a bullish formation, with shorter-term EMAs above longer-term ones. This is generally considered a strong bullish signal.</p>
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   <p lang="en" dir="ltr">Posting some entries:<a href="https://twitter.com/search?q=%24TIA&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$TIA</a> dip already happened and I already marked that level. Wouldn't buy here.<br><br>Anyone take this trade? <a href="https://t.co/eqHfy7rS5u" target="_blank" rel="noopener noreferrer nofollow">https://t.co/eqHfy7rS5u</a> <a href="https://t.co/SSWD4uzNUp" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/SSWD4uzNUp</a></p>— Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1838393807483650228?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 24, 2024</a>
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<p>Sherpa highlights the 0.5 Fibonacci level ($5.112) as a significant dip point, which aligns with a green box on the chart – likely the trader’s entry zone. This level seems to have provided strong support, as <a href="https://captainaltcoin.com/celestia-tia-price-ready-for-next-leg-up-following-price-breakout-analyst-shares-next-profit-target/" target="_blank" rel="noopener noreferrer nofollow">the Celestia price rebounded sharply</a> after dipping.</p>
<p>A large volume spike coincided with the price movement, indicating that the breakout to $6.501 was backed by significant buying pressure. However, at the time of the chart, TIA had already retraced slightly from its high of $6.501 to $6.433, suggesting some profit-taking or resistance at that level.</p>
<p>Sherpa advises caution, suggesting that the best buying opportunity for TIA has already passed. The trader refrains from recommending a buy at the current price, implying an expectation of a pullback or satisfaction with the trade having hit its target.</p>
<p><em><strong>Read also: <a href="https://captainaltcoin.com/early-shiba-inu-shib-buyer-made-massive-profit-with-new-meme-coin-neiro-heres-how/" target="_blank" rel="noopener noreferrer nofollow">Early Shiba Inu (SHIB) Buyer Made Massive Profit with New Meme Coin ‘NEIRO’ – Here’s How!</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/celestia-tia-price-pumps-but-traders-point-to-warning-signals/" rel="noopener noreferrer nofollow">Celestia (TIA) Price Pumps, But Traders Point to Warning Signals</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Celestia (TIA) Price Pumps, But Traders Point to Warning Signals

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