Rising Star Poses Threat to Solana, Sees Remarkable 247% Surge in 30 Days; Trader’s Perspectives on LDO and an Alternative Altcoin
Renowned crypto strategist Altcoin Sherpa, followed by over 205,700 on X, issues a cautionary note on Sei (SEI), a Solana competitor that has surged over 3x in the past month.
Despite SEI maintaining an overall uptrend with positive indicators such as consolidation and strong market structure, Altcoin Sherpa points to potential signals of bullish exhaustion, citing factors like a probable exhaustion pump, rotation from other assets, and declining volume. SEI is currently trading at $0.785, reflecting a remarkable 247% increase from its 30-day low of $0.226.
Additionally, Altcoin Sherpa provides insights on Lido DAO (LDO), expressing continued bullish sentiment but anticipating a correction to the 0.382 or 0.5 Fibonacci retracement level. As of now, LDO stands at $3.45. Lastly, the trader observes Xai (XAI), a gaming-focused crypto project, suggesting a probable entry point around $0.90 after revisiting its immediate support level.
Clever Robot News Desk 18th January 2024
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