A veteran dealer identified for well timed crypto calls says he’s bullish on one Solana (SOL) rival now that it’s displaying vital energy.
Pseudonymous dealer The Move 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 can be decrease, however check out SEI – I merely have to be default bullish biased on issues like this.
Summer season vary damaged, retesting, I’ll simply add till confirmed in any other case. The invalidation is shut and it is 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 properly with most crypto belongings up within the final seven days, The Move Horse warns that not all the pieces goes to maintain printing inexperienced candles.
Based on the dealer, sure altcoins like Dogecoin (DOGE) rival Shiba Inu (SHIB) are presenting unbelievable alternatives for brief sellers seeking to capitalize on overextended rallies. He shares a SHIB chart overlayed with open curiosity information, which is commonly used as an indicator to gauge when markets are frothy.
“Watch out considering there are not any good brief alternatives anymore. Is SHIB a great brief right here? Possibly, relying on if we’re nearer to a short correction. Dropping 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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