Crypto Analyst Says a Solana Rival Is Poised to Move Higher, Outlining a Path Forward for Fantom and NEAR Protocol

A extensively adopted crypto analyst thinks a Solana (SOL) challenger is gearing up for extra rounds of upside bursts.

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

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

Says Altcoin Sherpa,

“On a basic degree, I believe it must be constructed a bit extra for folks to wager on it, however total it appears actually good for the following degree. Seize a bag a bit of decrease when it comes. One thing like €0.60 could be an honest entry in my view.”

On the time of writing, SEI is price $0.66.

One other altcoin on the dealer’s radar is the sensible contract platform Fantom (FTM). In line with crypto strategist FTM looks strong for long-term buyers given its robust fundamentals. He additionally says the coin appears bullish after breaking a multi-month accumulation interval.

“FTM: There’s lots to love about this graph and this challenge IMO (in my view):

-André [Cronje] cracked developer
-high float/not a lot promoting stress from VCs (enterprise capitalists)
-Sonic rebranding is coming that touches all tales
-chart-wise, an accumulation interval of virtually two years, adopted by some massive strikes and clear ranges.

I am in.

To be trustworthy, I do not actually advocate shopping for at this present degree, however I believe shopping for any dips is an effective factor. Nonetheless consider it is a fairly good selection to carry for those who’re in search of older 2021 movers with excessive float/supply (others like AVAX may very well be thought-about).”

Primarily based on the dealer’s chart, he appears to recommend that FTM is dealing with a significant resistance degree at $1.10.

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

fellow Layer-1 (L1) protocol Close to (NEAR), the dealer shares a chart that implies the altcoin may goal its resistance at $8.29 after rising above $6.50.

“NEAR has fairly sluggish value motion and isn’t actually an excellent energetic commerce in the mean time. That stated, I believe this touches on a whole lot of tales for this cycle by way of AI (synthetic intelligence) and L1. I would wish to see extra progress there/extra epee stuff, however I do have a bag of this.

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

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Featured picture: Shutterstock/Alberto Andrei Rosu/Plasteed