With altcoin season perhaps just around the corner, both Celestia (TIA) and Injective (INJ) are showing the kinds of price gains to come from other top-performing altcoins.
Friday sees bitcoin right up against the $44,000 resistance, and most of the altcoins are in the red. The market looks to be forming its decision as to which direction the day will take. Bitcoin is key here, but one or two of the altcoins are already looking to begin a green day.
$TIA rocketship continues huge move
Celestia (TIA) is a relative newcomer to the altcoins, and provides a niche whereby anyone can set up their own customisable blockchain, with a network that scales securely as more users join.
Source: Trading View
$TIA launched on major exchanges in early November, and since then the price has gone up steadily, reaching nearly $15, from a launch price of $1. A period of sideways consolidation over the last three weeks, holding support at $11.50, resulted in a breakout over the last couple of days which has now turned $14 into support. Price discovery is ongoing.
$INJ one of the first to recover from crypto dump
Source: Trading View
Injective (INJ) is one of the other few altcoins to be in the green at time of going to press. After Wednesday’s crypto dump, $INJ has recovered incredibly well, with the current price only just 1% short of the opening price on Tuesday.
The price is now sitting nicely on the support of the 0.618 fibonacci level, and has tagged the resistance at $39.58. Next move is to break this resistance and turn it into support, with the next target of resistance and the 0.786 fibonacci level at $41.47. A more advanced target is to be found at the 1.618 fibonacci at a price of $54.
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Source: https://cryptodaily.co.uk/2024/01/celestia-tia-and-injective-inj-are-forerunners-of-the-coming-altcoin-season