Trader Issues Warning on Solana Rival That’s Up 247% in One Month, Updates Outlook on LDO and One Other Altcoin
A extensively adopted crypto strategist warns {that a} Solana (SOL) competitor that’s up greater than 3x in the final 30 days is flashing indicators that it might have printed a short-term high.
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 seems to be good:
-consolidation and extremely bullish excessive timeframe market construction
-still bullish on all time frames
-EMAs (exponential shifting averages) all catching up + different alts trying sturdy
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 also be maintaining an eye fixed on 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 think a solid entry is coming up around $2.75-$3. Still bullish on this one overall.”
At time of writing, LDO is value $3.45.
The final altcoin on the dealer’s radar is X is the gaming-focused crypto undertaking Xai (XAI). Altcoin Sherpa thinks that XAI will probably revisit its rapid help degree earlier than shifting greater.
“XAI: something like $0.90 would probably be a solid 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
Verify Value Motion
Observe us on Twitter, Facebook and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl usually are 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 individual danger, and any loses you might incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please observe that The Each day Hodl participates in affiliate marketing online.
Generated Picture: Midjourney
