Experienced crypto analyst Altcoin Sherpa has issued a warning to investors about Sei (SEI), a strong competitor to Solana (SOL), which has surged over threefold in the past 30 days. He suggests that SEI may have reached a peak in the short term, showing signs of an impending reversal. The analyst also provided insights into the current status of Lido DAO (LDO) and Xai (XAI).
On social media, Altcoin Sherpa noted that despite Sei’s SEI token still being in an uptrend, it’s beginning to exhibit signs of exhaustion. He praised its consolidation and bullish market structure across all timeframes, with rising EMAs indicating strength similar to other altcoins. However, he cautioned that SEI might be at the tail end of its rally, potentially making its last big move before a shift towards Ethereum-based assets (ETH) and a subsequent distribution phase.
The analyst is closely monitoring Lido DAO, a liquid staking service for Ethereum, and its native asset LDO. While still optimistic about LDO’s upward trajectory, he expects a correction to the 0.382 or 0.5 Fibonacci retracement levels.
Finally, Altcoin Sherpa analyzed the gaming-focused crypto project Xai. He underscored his expectation that XAI, backed by Binance, might revisit its critical support level before ascending further, highlighting $0.90 as a potential key buying level for the altcoin.
Investors are advised to heed the warnings and analysis provided by Altcoin Sherpa, as the volatile nature of the crypto market requires careful consideration of potential trend reversals and corrections.