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Crypto Analyst Says One Solana Rival Primed To Go Higher, Outlines Path Forward for Fantom and NEAR Protocol

n70products by n70products
November 30, 2024
in Altcoin
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Crypto Analyst Says One Solana Rival Primed To Go Higher, Outlines Path Forward for Fantom and NEAR Protocol
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A broadly adopted crypto analyst thinks one Solana (SOL) challenger is gearing up for extra rounds of upside bursts.

Pseudonymous analyst Altcoin Sherpa tells his 232,200 followers on the social media platform X that Sei (SEI) seems to be bullish after breaking out of a rounding backside sample on the weekly chart.

A rounding backside formation is a bullish reversal construction suggesting that an asset is able to witness a brand new uptrend.

Says Altcoin Sherpa,

“Fundamentals-wise, I feel there must be a bit extra constructed on there for individuals to gamble on however all in all, it seems to be actually good for greater. Grabbing a bag a bit decrease if it comes. One thing like $0.60 could be an honest entry in my view.” 

Image
Supply: Altcoin Sherpa/X

At time of writing, SEI is price $0.66.

One other altcoin on the dealer’s radar is the good contract platform Fantom (FTM). In accordance with the crypto strategist, FTM looks strong for long-term traders given its sturdy fundamentals. He additionally says the coin seems to be bullish after breaking out from a multi-month accumulation interval.

“FTM: there’s rather a lot to love with this chart and undertaking IMO (in my view):

-Andre [Cronje] cracked dev
-high float/not as a lot promote strain from VCs (enterprise capitalists)
-Sonic rebrand coming that hits all of the narratives
-chart-wise, virtually a two-year accumulation interval adopted by some massive strikes and clear ranges.

I’m in.

Don’t actually advocate you purchase at this present stage, to be frank, however I feel that purchasing any dips is an effective factor. Nonetheless consider that this can be a fairly first rate one to carry for those who’re in search of older 2021 movers which have excessive float/provide out (others like AVAX could be thought of).”

Image
Supply: Altcoin Sherpa/X

Primarily based on the dealer’s chart, he appears to recommend that FTM is dealing with one massive resistance stage at $1.10.

At time of writing, FTM is buying and selling at $1.00.

fellow layer-1 (L1) protocol Close to (NEAR), the dealer shares a chart suggesting that the altcoin might goal its resistance at $8.29 after transferring above $6.50.

“NEAR has fairly sluggish grinding value motion and isn’t actually an important lively commerce proper now. That mentioned, I do suppose that this hits loads of narratives for this cycle by way of AI (synthetic intelligence) and L1. Wish to see extra development on there / extra degen stuff however I do have a bag of this.” 

Image
Supply: Altcoin Sherpa/X

NEAR is buying and selling at $6.97 at time of writing.

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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 property. Please be suggested that your transfers and trades are at your individual danger, and any losses chances are you’ll incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please be aware that The Each day Hodl participates in affiliate marketing online.

Featured Picture: Shutterstock/Alberto Andrei Rosu/Plasteed





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Tags: AnalystCryptoFantomHigherOutlinesPathPrimedProtocolRivalSolana
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