Trader Turns Bullish on Altcoin Amid Breakout of Accumulation Range, Maps Path Forward for Sei and Gala
A broadly adopted cryptocurrency analyst and dealer is expressing bullish sentiment on a top-30 altcoin by market cap.
The dealer pseudonymously generally known as Altcoin Sherpa tells his 212,600 followers on the social media platform X that Web Pc (ICP), a blockchain challenge whose goal is to duplicate the web’s pace, energy and scale on decentralized networks, seems to have accomplished a consolidation interval that begun earlier within the yr.
“ICP: This appears to be like prefer it’s completed its multi-week accumulation interval, it’s time to go.
That is one to actively commerce for the following few weeks for my part.”
ICP is buying and selling at $19.40 at time of writing, up by round 72% in seven days.
Subsequent up is the layer-one blockchain Sei (SEI). Altcoin Sherpa says that he expects SEI to proceed buying and selling in a spread that began forming 83 days in the past.
“SEI: Nearly three months in this trading range with some deviations to the upside. Expecting more chop on this one for a bit.”
SEI is buying and selling at $0.845 at time of writing.
Subsequent up is the native token of the Gala (GALA) blockchain gaming platform. Altcoin Sherpa says that GALA, which is 92% under its all-time excessive worth of $0.825 reached in November of 2021, presents a gorgeous upside alternative.
Based on Altcoin Sherpa, the risk-reward ratio of Gala is “not bad”.
“GALA: Some of these coins have a long way to go to former all-time highs. Not saying they’re going to get anywhere close to it but the upside is definitely good if these projects still have some money in the bank + catalysts + kept building in the bear market.”
GALA is buying and selling at $0.065 at time of writing.
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