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This Solana Rival Is Looking Great Amid Bitcoin Pullback, Says Top Crypto Analyst

This Solana Rival Is Looking Great Amid Bitcoin Pullback, Says Top Crypto Analyst

Daily HodlDaily Hodl2024/11/26 16:00
By:by Daily Hodl Staff

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.”

This Solana Rival Is Looking Great Amid Bitcoin Pullback, Says Top Crypto Analyst image 0 Source: Pentoshi/X This Solana Rival Is Looking Great Amid Bitcoin Pullback, Says Top Crypto Analyst image 1 Source: Pentoshi/X

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.”

This Solana Rival Is Looking Great Amid Bitcoin Pullback, Says Top Crypto Analyst image 2 Source: Pentoshi/X

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 [now] and our large/mid caps have made some decent moves in terms of both USD and BTC pairs.”

This Solana Rival Is Looking Great Amid Bitcoin Pullback, Says Top Crypto Analyst image 3 Source: Pentoshi/X

The BTC.D is hovering at 58.61% at time of writing.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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