One popular crypto analyst believes that a competitor to Solana (SOL) is preparing for further upward movements.
Known as Altcoin Sherpa, the analyst with a following of 232,200 on X platform states that Sei (SEI) is showing bullish signs after breaking out of a rounding bottom pattern on the weekly chart.
A rounding bottom formation indicates a bullish reversal, signaling a potential uptrend for the asset.
According to Altcoin Sherpa, “Fundamentally, I believe there needs to be more development for people to invest in it, but overall, it looks very promising for higher gains. Buying in at around $0.60 could be a good entry point in my view.”
Currently, SEI is valued at $0.66.
Altcoin Sherpa also has his eyes on Fantom (FTM), a smart contract platform. The analyst believes that FTM is a solid choice for long-term investors due to its strong fundamentals. After breaking out of a multi-month accumulation phase, FTM is displaying bullish signals.
“FTM: there are several positive aspects to this chart and project in my opinion,” says Altcoin Sherpa, highlighting various factors that make FTM an attractive investment.
Based on the analyst’s chart, FTM is currently facing a major resistance level at $1.10.
At present, FTM is trading at $1.00.
Altcoin Sherpa also discusses Near (NEAR), another layer-1 (L1) protocol. The analyst shares a chart indicating that NEAR could target its resistance at $8.29 after surpassing $6.50.
“NEAR has a slow and steady price action and may not be an ideal active trade at the moment. However, it aligns with key narratives for this cycle in terms of AI and L1. I see potential for growth and have invested in this,” states Altcoin Sherpa.
NEAR is currently priced at $6.97.
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