A widely followed crypto analyst believes one of Solana's (SOL) competitors has bigger upside potential.
Crypto trader Michaël van de Poppe told his 724,900 followers on social media platform X that Layer-1 blockchain SEI (SEI) could surge more than 46% from its current value by next month.
“Altcoins are doing relatively well. SEI continues to gain momentum and I expect it to rise to $0.34 (hopefully above the previous high, but not expecting it yet), form a HL (higher low) and continue to rise to $0.44 in October.”
SEI is trading at $0.30 at the time of writing, up over 7% in the past 24 hours.
Next, the analyst said that if Bitcoin (BTC) can turn the $58,000 level into support, it could quickly reclaim the $62,000 level.
“Bitcoin is doing exactly what I expected it to do. It's been great, staying above the key $56,000 area and now attacking resistance. If it breaks below $58,000, I think it will hit $62,000 almost instantly.”
At the time of writing, Bitcoin was trading at $58,198, up around 4% over the past 24 hours.
Finally, traders are predicting that Ethereum (ETH) will fall against Bitcoin (ETH/BTC) if Bitcoin breaks into the $60,000 range.
“The bullish divergence has clearly been invalidated for ETH, and a drop to levels below 0.04 BTC is possible. If Bitcoin sees momentum towards $61,000-$62,000, further declines are likely.”
ETH/BTC was trading at 0.04039 BTC ($2,351) at the time of writing, down more than 1% in the past 24 hours.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies and digital assets. Transfers and transactions are at your own risk and you are responsible for any losses incurred. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and is not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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