Cryptocurrency analyst and dealer Michaël van de Poppe believes that one Solana (SOL) challenger could also be gearing as much as witness a bullish reversal.
Van de Poppe tells his 719,300 followers on the social media platform X {that a} “new spherical of upwards momentum appears inevitable” for Sei (SEI).
In response to the extensively adopted crypto analyst, Sei has depreciated by round 70% in opposition to Bitcoin (SEI/BTC) since January. Based mostly on Van de Poppe’s chart on the day by day timeframe, Sei could discover assist at 0.0000006 BTC ($0.42).
Sei, which at the moment has a market cap of round $1.6 billion, is buying and selling at 0.00000768 BTC ($0.543) at time of writing.
Turning to Bitcoin, Van de Poppe says the flagship crypto asset is caught in a variety between $67,800 and an all-time excessive of about $73,800. In response to the analyst, Bitcoin is “closely prepared for a breakout upwards to a brand new all-time excessive.”
But when Bitcoin turns bearish, the dealer shares a chart exhibiting potential assist areas for BTC together with $67,789, $60,748 and $56,000.
In response to Van de Poppe, the bullish catalysts for Bitcoin and different crypto belongings would be the easing of financial coverage.
“The European Central Financial institution determined to chop charges at the moment.
The primary Central Financial institution doing so and I feel it’s a matter of time earlier than the Federal Reserve decides to do the identical and begin quantitative easing once more.
It’s the one means out of this financial place.
As a response?
Lengthy crypto, Bitcoin and commodities.”
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