The post These Altcoins Aim to Recover 50% of Their Losses This Month After Initiating a 20% Rise appeared first on Coinpedia Fintech News
Although the Bitcoin price has displayed some weakness in the recent past, the values appear to have stabilised within a range. This has also impacted the second-largest token, Ethereum, which has managed to hold above $3000 as bears remain passive.
As the ETH price displays strength, the Ethereum-based tokens and some of the other altcoins like Celestia (TIA) & Sei (SEI) show huge potential to remain elevated throughout the week. Moreover, if they succeed in closing the weekly trade on a bullish note, the end of the month may witness a huge price action.
Celestia (TIA) Price Analysis
After bottoming out hard, the TIA price has triggered a rebound after fighting the bearish activity
The token is not expected to print huge bullish candles hereafter but maintain an ascending consolidation
The DMI suggests a trend reversal which has been initiated could be intensified as the +Di & -Di are due for a bullish crossover but the ADX is close to initiating a plunge
The volume has risen, indicating growing trading activity, which may keep up the volatility
Therefore, the TIA price is expected to maintain an ascending consolidation to rise above the double-digit figure and reach the upper resistance at $11
Sei (SEI) Price Analysis
The SEI price has triggered a strong rebound after hitting the lower support of the falling wedge
The RSI is about to rise above the descending trend line, which has been acting as a strong support since the beginning of the year
This suggests the price could keep up a strong elevated trend and reach the upper resistance zone between $0.43 and $0.45
The token may face a minor pullback and remain consolidated for a while, followed by a bullish breakout towards the upper initial target close to $0.6, surpassing $0.58.
