A broadly adopted crypto strategist warns {that a} Solana (SOL) competitor that’s up greater than 3x within the final 30 days is flashing indicators that it could have printed a short-term prime.
The pseudonymous analyst referred to as Altcoin Sherpa tells his 205,700 followers on the social media platform X that whereas layer-1 blockchain Sei (SEI) continues to be in an uptrend, it beginning to present indicators of bullish exhaustion.
“Why it appears good:
-consolidation and extremely bullish excessive time-frame market construction
-still bullish on all time frames
-EMAs (exponential transferring averages) all catching up + different alts wanting robust
Why it doesn’t:
-could be an exhaustion pump right here and final large transfer up
-could be rotation from others (SOL/SEI/and so on/) to ETH season also referred to as ARB/LDO/OP
-dying quantity/some indicators of distribution right here.”
At time of writing, SEI is buying and selling for $0.785, up over 247% from its 30-day low of $0.226.
The dealer can be keeping track of the value motion of Lido DAO (LDO), a liquid staking service for the Ethereum (ETH) blockchain. Altcoin Sherpa says that whereas he’s nonetheless bullish on LDO, he expects it to right to both the 0.382 or 0.5 Fibonacci retracement stage.
“LDO: checking this one, I believe a stable entry is arising round $2.75-$3. Nonetheless bullish on this one total.”
At time of writing, LDO is value $3.45.
The final altcoin on the dealer’s radar is X is the gaming-focused crypto venture Xai (XAI). Altcoin Sherpa thinks that XAI will probably revisit its fast help stage earlier than transferring increased.
“XAI: one thing like $0.90 would in all probability be a stable entry.”
At time of writing, XAI is value $1.04.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Test Price Action
Comply with us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any loses you could incur are your accountability. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please observe that The Every day Hodl participates in online marketing.
Generated Picture: Midjourney
