CandleFocus Analyst Says One Altcoin Primed To Crash by Over 75%, Updates Outlook on Bitcoin, Stacks and Eigenlayer
2024-10-03
Author: Content Editor
The crypto strategist Altcoin Sherpa believes that Celestia (TIA), a modular blockchain project, could experience a significant drop of over 77% due to prolonged investor selling. The analyst cites research showing that initial investors are steadily selling their tokens, leading to a potential collapse in the project's value. Altcoin Sherpa predicts that TIA could eventually drop to less than $1. On the other hand, the strategist believes that Bitcoin (BTC) may be preparing for a breakout similar to the one observed in September 2023, as its trading range has narrowed. Altcoin Sherpa also notes that Stacks (STX), a layer-2 scaling solution, appears to be in an accumulation phase and could potentially lead a rally if it breaks out. The analyst expresses bullish sentiment on Eigenlayer (EIGEN), a new ETH-based "restaking" protocol, considering it relatively undervalued despite its lack of price history.
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