Analyst Michaël van de Poppe Says One Solana Rival’s Upward Momentum ‘Inevitable,’ Updates Outlook on Bitcoin

Cryptocurrency analyst and dealer Michaël van de Poppe believes that one Solana (SOL) challenger could also be gearing as much as witness a bullish reversal.

Van de Poppe tells his 719,300 followers on the social media platform X {that a} “new round of upwards momentum seems inevitable” for Sei (SEI).

Supply: Michaël van de Poppe/X

In keeping with the extensively adopted crypto analyst, Sei has depreciated by round 70% towards Bitcoin (SEI/BTC) since January. Primarily based on Van de Poppe’s chart on the each day timeframe, Sei might discover assist at 0.0000006 BTC ($0.42).

Sei, which presently has a market cap of round $1.6 billion, is buying and selling at 0.00000768 BTC ($0.543) at time of writing.

Turning to Bitcoin, Van de Poppe says the flagship crypto asset is caught in a spread between $67,800 and an all-time excessive of about $73,800. In keeping with the analyst, Bitcoin is “heavily ready for a breakout upwards to a new all-time high.”

But when Bitcoin turns bearish, the dealer shares a chart exhibiting potential assist areas for BTC together with $67,789, $60,748 and $56,000.

Supply: Michaël van de Poppe/X

In keeping with Van de Poppe, the bullish catalysts for Bitcoin and different crypto belongings would be the easing of financial coverage.

“The European Central Financial institution determined to chop charges as we speak.

The primary Central Financial institution doing so and I believe it’s a matter of time earlier than the Federal Reserve decides to do the identical and begin quantitative easing once more.

It’s the one manner out of this financial place.

As a response?

Lengthy crypto, Bitcoin and commodities.”

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