Altcoins
These altcoins aim to recover 50% of their losses this month after starting a 20% increase
although the Bitcoin Price has shown some weakness in the recent past, values seem to have stabilized within a range. This has also had an impact on the second largest token, Ethereum, which has managed to hold above $3000 while the bears remain passive.
While ETH price is showing strength, Ethereum-based tokens and some of the other altcoins like Celestia (TIA) and Sei (SEI) are showing huge potential to stay elevated throughout the week. Also, if they manage to close the weekly trade on a bullish note, the end of the month could witness a huge price action.
Celestia (TIA) Price Analysis
- After hitting the bottom, TIA price triggered a rebound after battling the bearish activity
- The token is not expected to print huge bullish candles later, but to maintain an upward consolidation
- The DMI suggests that a trend reversal that has been initiated could be intensified as +Di and -Di are set for a bullish crossover, but the ADX is close to starting a breakdown
- Volume increased, indicating increasing trading activity, which could keep volatility
- Therefore, TIA price is expected to maintain an upward consolidation to rise above the double-digit figure and reach the upper resistance at $11.
Price Analysis Six (SEI)
- SEI price triggered a strong bounce after touching the lower support of the falling wedge
- The RSI is about to rise above the descending trend line, which has acted as a strong support since the beginning of the year.
- This suggests that the price could maintain a strong uptrend and reach the upper resistance zone between $0.43 and $0.45
- The token could see a slight decline and consolidate for a while, followed by a bullish breakout towards the initial upper target near $0.6, surpassing $0.58.