A popular crypto analyst thinks the modular blockchain network Celestia (TIA) will collapse in price over the long term.

Pseudonymous analyst Altcoin Sherpa tells his 222,800 followers on the social media platform X that TIA will plunge to below $1 eventually, though he acknowledges it could see some “random short squeezes” before that.

“Psyops would be to pump price going into unlocks so all early shorters get rekt; plebs buy this thing and chase, and seed investors slowly get to dump. Wouldn’t hold this thing for a long time, but I’d probably lean towards longing it in the short term? Probabaly grab an entry around 4.60ish-4.40?”

Market participants have been uncertain about the future price action of Celestia, given that the project is slated to unlock 175.74 million TIA tokens on October 31st, according to the digital asset research website CryptoRank.io. A token unlock adds more coins to the circulating supply, which could induce selling pressure from investors who got in first.

TIA is trading at $4.65 at time of writing, a fractional decrease over the past day.

Altcoin Sherpa also says he’s not currently accumulating FET, the native token of the Artificial Superintelligence Alliance, an artificial intelligence (AI)-focused project.

“I think looks good but I am not personally buying here. S/R (support/resistance) level + 200-day EMA (expontential moving average) that’s acted as resistance. Happy to buy this higher though because breaking the $1.48 area would mean a higher high/shift in trend.”

FET is trading at $1.26 at time of writing and is down more than 2% in the past 24 hours.

Conversely, the analyst thinks layer-1 blockchain Sui (SUI) is a “decent one to trade.”

“Don’t think much about it long term given unlocks/everything else but in the mid-term it looks like you should only be longing this thing. Higher low + 1-day EMAs all strong.”

SUI is trading at $1.02 at time of writing and is down 1.74% in the past 24 hours.

Altcoin Sherpa also notes that he accumulated IO, the native token of the decentralized computing network IO.NET, at $1.76. The trader shares a chart suggesting that IO has flipped a former resistance level into support.

IO is trading at $1.73 at time of writing.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The Sandbox (SAND) has lately attracted interest with opposing opinions on its potential price movement. Although some analysts believe there is room for large increases, short-term data point to a more wary stance.

Though long-term estimates show a different, more hopeful picture, recent studies hint to a likely price decline in the next weeks. What then is the actual SAND story, and should investors act right now or hold off?

Related Reading

Crypto price prediction website CoinCodex says, by mid-October 2024, the total value of The Sandbox should have gone down by 5.45% to $0.232674. Technical indicators are rather unfavorable. If indeed, as it’s turned out today,

The Fear & Greed Index is neutral at 51, then there is definitely no sigh of quick recovery in sight either. SAND has 63% of the green days over the last month; however, its volatility rate is 6.27%, which speaks for continuous instability.

Transient Issues

Short term, SAND does not look amazing. The technical perspective of things so far is a bit conservative, meaning that now may not be the best time to buy. While SAND has recently been able to display resilience with a decent number of green days, the overall vibe is trending down. Waiting for more favorable conditions could be a preferable plan for people trying to make rapid profits.

Some investors are hanging on despite the great volatility, thinking the market would shortly flip. Nothing new about volatility in cryptocurrencies; The Sandbox has seen such storms previously. This does not mean, though, SAND is impervious to more declines. Should the price projection be accurate, a slide to $0.232674 could attract more short-term market activity.

Long-Term Positive Outcomes

Unlike the gloomy short-term projection, some analysts—like Alan Santana—are showing a more optimistic long-term stance. Santana speculates that SAND might be in a critical accumulation phase with great upside possibility.

He claims that although recent volatility has caused fluctuations, the coin has regularly reached lower lows since July 2021, pointing an overall increasing trend. Moreover, he thinks that this would be a great opportunity for long-term investors to build SAND at the present low price.

#Altcoins ✴️ The Sandbox 1,111% Growth Potential (Accumulation Strategy)

While we are going to be looking at the log. chart for The Sandbox, when we look at the linear chart we can simply say that this pair is trading at bottom prices.https://t.co/sx1l4xkU6a

A simple… pic.twitter.com/GWEu2qSxkC

— Alan Santana (@lamatrades1111) September 14, 2024

Santana has lofty long-term SAND projection. From its present price, he projects a price goal of $22.22, which offers a whopping 8,600% return on investment. Apart from this long-term objective, one has to take short-term figure into account. Santana projects a 415% rise not too far off, then a mid-term target of 1,111%. Investors could make significant gains even before the long-term goal is met.

Related Reading

Market Change To Bullish?

The whole cryptocurrency sector fought to start a bull run in 2023. SAND, like several cryptocurrencies, fell to their lowest levels in recent months. Some observers believe the market is gradually turning bullish. If this changes, The Sandbox may benefit from a market resurgence.

The Sandbox is currently showing $0.2532 and declining some 0.27% over the past day. Long-term promise is here–even so with a few short-term hazards–because there are some unfavorable warnings at the moment that investors will have to weigh against the more hopeful view for 2025 and going forward.

Featured image from Phemex, chart from TradingView

An analyst known for making crypto bottom calls thinks that memecoin Pepe (PEPE) and one Solana (SOL) challenger are gearing up for breakout rallies.

Pseudonymous analyst Bluntz tells his 273,500 followers on the social media platform X that PEPE and Sei (SEI) are among the market’s leaders after breaking out of bullish reversal patterns.

“Many altcoins with blatant in-your-face accumulation going on here, extremely hard to be bearish in my opinion.

SEI and PEPE are some standouts, in my opinion.” 

Looking at SEI, the trader appears to suggest that the Solana rival has broken out from a rounding bottom pattern. The technical formation is often viewed as a bullish reversal pattern as it indicates that investors have accumulated the asset without allowing the price to move lower.

At time of writing, SEI is trading for $0.30, down 1.44% on the day.

As for PEPE, the trader shares a chart suggesting that the meme token has broken out from an inverse head-and-shoulders pattern, another bullish reversal formation. The pattern coincides with the conclusion of an ABC corrective wave, which suggests that an asset is poised for a surge.

“PEPE coming in hot with the accumulation break.”

At time of writing, PEPE is worth $0.0000078, a 1.2% decrease in the last 24 hours.

Turning to Bitcoin, the analyst believes that BTC is close to sparking rallies amid rising liquidity injections from the Federal Reserve.

“You didn’t fade the Fed liquidity injection because of ‘mUH SePTemBeR iS TypIcaLLy BeARiSh’ did you anon? BTC.”

Traders typically see liquidity influxes as a bullish signal as it indicates that there’s more capital that could be invested in risk assets such as Bitcoin and crypto.

Bluntz previously predicted that Bitcoin will rally to a new all-time high around the $100,000 level.

“Still my base case for BTC, bears are about to get murdered in my opinion.”

At time of writing, Bitcoin is trading for $60,200, a slight dip in the last 24 hours.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney