A extensively 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 might have printed a short-term prime.
The pseudonymous analyst generally known 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 to be like good:
-consolidation and extremely bullish excessive timeframe market construction
-still bullish on all time frames
-EMAs (exponential shifting 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 many others/) 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 also be maintaining a tally of the worth 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 appropriate to both the 0.382 or 0.5 Fibonacci retracement degree.
“LDO: checking this one, I feel a strong entry is developing 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 challenge Xai (XAI). Altcoin Sherpa thinks that XAI will doubtless revisit its quick help degree earlier than shifting greater.
“XAI: one thing like $0.90 would most likely be a strong entry.”
At time of writing, XAI is value $1.04.
Do not Miss a Beat – Subscribe to get e mail alerts delivered on to your inbox
Verify Price Action
Comply with us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Day by day Hodl are usually not 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 threat, and any loses you could incur are your accountability. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please observe that The Day by day Hodl participates in affiliate internet marketing.
Generated Picture: Midjourney