Renowned cryptocurrency analyst The Flow Horse has expressed optimism about SEI, a rising competitor in the altcoin space alongside Solana (SOL). Following SEI’s breakthrough past the $0.40 barrier, the analyst’s confidence has surged as it navigates significant resistance levels.
How is SEI Performing Currently?
The Flow Horse highlighted a favorable trajectory for SEI after it successfully broke through a prolonged resistance point. While SEI once exceeded the $0.50 threshold, it is presently trading at approximately $0.469, reflecting a 4% gain over the past 24 hours.
What is the Analyst’s Investment Advice for SEI?
Despite acknowledging a possible dip in trading volumes, The Flow Horse remains bullish on SEI. He pointed out that altcoins like Shiba Inu (SHIB) might pose short-term selling opportunities. “Given that it’s the weekend, my trading volumes will be low, but keep an eye on SEI. I feel inclined to be bullish regardless,” he stated.
- The Flow Horse believes SEI is showing promising signs for investors.
- He cautioned about potential short positions in assets like SHIB.
- Despite market volatility, there are continual opportunities in the altcoin sector.
The overall outlook for the altcoin market remains positive, yet The Flow Horse advises investors to exercise caution. He suggests that shorting assets experiencing rapid gains could be a strategic move.
The latest trends in SEI and similar altcoins underscore the ever-changing landscape of the cryptocurrency market. Adopting a vigilant approach by monitoring these shifts can empower investors to make informed choices.