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A closely followed crypto analyst says that one Solana (SOL) rival is exhibiting market strength despite Bitcoin’s (BTC) pullback to the lower $90,000 range.
Pseudonymous analyst Pentoshi tells his 822,400 followers on the social media platform X that the native token of the layer-1 blockchain Sei (SEI) is primed for another leg up.
“SEI is another one that not only looks great with a high timeframe flip and clear invalidation, but also holding up very well like many alts on this BTC pullback. Here is the daily and weekly. Just to compare to a similar setup shared [on November 23rd]. When BTC chills out, alts should continue up.”
SEI is trading for $0.69 at the of writing, up 12.9% in the last 24 hours.
The analyst is also bullish on the modular blockchain network Celestia (TIA) after the native token took out its resistance at around $7.00.
“Really strong, and we should see it continue higher.”
TIA is trading at $8.22 at time, up 3.9% in the last 24 hours.
The analyst believes that many altcoins may start outperforming Bitcoin. He shares a chart of the Bitcoin Dominance (BTC.D), which has suddenly dropped out of the 60% range. The BTC.D index tracks how much of the total crypto market cap belongs to Bitcoin. A bearish BTC.D chart suggests that altcoins are about to outshine Bitcoin.
“Looks a lot more convincing 1732713192 and our large/mid caps have made some decent moves in terms of both USD and BTC pairs.”
The BTC.D is hovering at 58.61% at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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