Crypto Analyst Says One Solana Rival Primed To Go Higher, Outlines Path Forward for Fantom and NEAR Protocol
A widely followed crypto analyst thinks one Solana ( SOL ) challenger is gearing up for more rounds of upside bursts.
Pseudonymous analyst Altcoin Sherpa tells his 232,200 followers on the social media platform X that Sei ( SEI ) looks bullish after breaking out of a rounding bottom pattern on the weekly chart.
A rounding bottom formation is a bullish reversal structure suggesting that an asset is ready to witness a new uptrend.
Says Altcoin Sherpa,
“Fundamentals-wise, I think there needs to be a bit more built on there for people to gamble on but all in all, it looks really good for higher. Grabbing a bag a bit lower if it comes. Something like $0.60 would be a decent entry in my opinion.”
Source: Altcoin Sherpa/XAt time of writing, SEI is worth $0.66.
Another altcoin on the trader’s radar is the smart contract platform Fantom ( FTM ). According to the crypto strategist, FTM looks solid for long-term investors given its strong fundamentals. He also says the coin looks bullish after breaking out from a multi-month accumulation period.
“FTM: there’s a lot to like with this chart and project IMO (in my opinion):
-Andre [Cronje] cracked dev
-high float/not as much sell pressure from VCs (venture capitalists)
-Sonic rebrand coming that hits all the narratives
-chart-wise, almost a two-year accumulation period followed by some big moves and clean levels.
I’m in.
Don’t really recommend you buy at this current level, to be frank, but I think that buying any dips is a good thing. Still believe that this is a pretty decent one to hold if you’re looking for older 2021 movers that have high float/supply out (others like AVAX might be considered).”
Source: Altcoin Sherpa/XBased on the trader’s chart, he seems to suggest that FTM is facing one big resistance level at $1.10.
At time of writing, FTM is trading at $1.00.
Looking at fellow layer-1 (L1) protocol Near ( NEAR ), the trader shares a chart suggesting that the altcoin may target its resistance at $8.29 after moving above $6.50.
“NEAR has pretty slow grinding price action and isn’t really a great active trade right now. That said, I do think that this hits a lot of narratives for this cycle in terms of AI (artificial intelligence) and L1. Would like to see more growth on there / more degen stuff but I do have a bag of this.”
Source: Altcoin Sherpa/XNEAR is trading at $6.97 at time of writing.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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