The cryptocurrency market demonstrates positive signs amid expectations for US Federal Reserve rate cuts. Ethereum (ETH) has reclaimed the $4,550 mark, positively impacting other altcoins, including Celestia (TIA).
Ethereum's Rise and Its Impact on the Market
Ethereum, the largest altcoin, has recovered to $4,550, eliciting a positive reaction in the market. This fuels investor optimism and supports a trend toward rising prices for other cryptocurrencies.
Harmonic Structure of Celestia
Celestia (TIA) has shown a significant 15% gain over the past week. Its chart displays a harmonic structure that may indicate further growth in the near term. On the daily timeframe, a **Bearish Bat** harmonic pattern is observed, which, despite its name, often precedes strong rallies.
Short-Term Prospects for TIA
If TIA breaks above the 200-day moving average with strong momentum, the token could climb as much as 86% from current levels. However, maintaining support above the 100-day moving average at $1.758 will be essential to preserve the bullish outlook during this climb.
The current situation in the cryptocurrency market, particularly for Ethereum and Celestia, signals growth opportunities. Investors must closely monitor key levels and effectively manage their positions.
