A veteran dealer recognized for well timed crypto calls says he’s bullish on one Solana (SOL) rival now that it’s displaying important power.
Pseudonymous dealer The Stream Horse tells his Telegram channel that he’s “default bullish” on the native asset of the layer-one blockchain Sei (SEI) following its clearance of a multi-month resistance across the $0.40 stage.
“It’s the weekend so similar to buying and selling volumes my posting volumes might be decrease, however check out SEI – I merely should be default bullish biased on issues like this.
Summer time vary damaged, retesting, I’ll simply add till confirmed in any other case. The invalidation is shut and this can be a key inflection level.”
Because the dealer’s publish, SEI has poked above the $0.50 earlier than correcting. At time of writing, SEI is value $0.469, up over 4% up to now day.
Whereas the altcoin market has been performing effectively with most crypto belongings up within the final seven days, The Stream Horse warns that not every little thing goes to maintain printing inexperienced candles.
In accordance with the dealer, sure altcoins like Dogecoin (DOGE) rival Shiba Inu (SHIB) are presenting implausible alternatives for brief sellers trying to capitalize on overextended rallies. He shares a SHIB chart overlayed with open curiosity knowledge, which is usually used as an indicator to gauge when markets are frothy.
“Watch out considering there are not any good quick alternatives anymore. Is SHIB a very good quick right here? Possibly, relying on if we’re nearer to a short correction. Shedding the extent on an enormous OI enhance units up the bleed out potential.”
At time of writing, SHIB is buying and selling at $0.000019, down over 5% on the day.
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