Closely followed cryptocurrency analyst Altcoin Sherpa has warned investors that the price of modular blockchain network Celestia (TIA) will fall in the long term.

Uncertainty in TIA Price

Altcoin Sherpa addressed his followers on social media platform X, stating that TIA will eventually fall below $ 1, but that there may be some "random short squeeze" movements before then. "Increasing the price towards key openings will destroy early short sellers. Small investors will buy and chase this, and early investors can sell slowly. I would not hold it for a long time, but I may prefer to take a long position in the short term? I can probably catch an entry level around $ 4.60-4.40," the analyst said in his assessment.

Market participants are uncertain about Celestia’s future price movements, as the project will unlock and release 175.74 million TIA coins into circulation on October 31. Unlocking the coins could increase the circulating supply, leading to selling pressure from early investors.

Current Outlook for FET and SUI

Altcoin Sherpa also said that he is not currently accumulating FET, the native token of the Artificial Superintelligence Alliance, an AI-focused project. “I think it looks good but I am not buying here personally. Support/Resistance level and the 200-day EMA acting as resistance. I would be happy to buy this higher because a break of $1.48 would mean an upward trend change,” the analyst said in his FET statement.

In contrast, the analyst noted that he thinks Layer-1 Blockchain Sui (SUI) is “good to trade,” adding, “I don’t think much about the unlocks and everything else in the long term, but in the medium term, it seems like you should just go long on this coin. Higher low and all 1-day EMAs are strong.”

Altcoin Sherpa also noted that he had accumulated IO, the native token of decentralized computing network IO.NET, at $1.76. The trader shared a chart showing IO turning a previous resistance level into support.

The cryptocurrency market can be volatile due to factors such as analyst forecasts and upcoming coin unlocks. Investors should be wary of price movements that may occur due to increased supply, especially during unlock periods. Technical analysis and closely following market trends are important for making informed investment decisions.

  • Altcoin Sherpa predicts that the Celestia (TIA) price will fall in the long term.

  • The analyst noted that he was not buying FET but SUI was suitable for trading.

  • Investors should pay attention to price fluctuations due to coin unlocks.