Cryptocurrency expert and trader Michaël van de Poppe has a hunch that Sei, a competitor to Solana (SOL), could be on the brink of a bullish reversal.

Addressing his 719,300 followers on the social media platform X, Van de Poppe predicts that Sei is primed for a new surge in upward momentum.

According to the seasoned crypto analyst, Sei has experienced a 70% decrease against Bitcoin (SEI/BTC) since January. Van de Poppe’s analysis suggests that Sei might find stability at 0.0000006 BTC ($0.42) based on the daily timeframe chart.

With a market capitalization of approximately $1.6 billion, Sei is currently trading at 0.00000768 BTC ($0.543) at the time of publication.

Shifting focus to Bitcoin, Van de Poppe notes that the leading cryptocurrency is currently range-bound between $67,800 and an all-time high of around $73,800. Van de Poppe believes that Bitcoin is gearing up for a breakout towards a new record high.

In case of a bearish turn for Bitcoin, the trader provides a chart outlining potential support levels for BTC, including $67,789, $60,748, and $56,000.

Van de Poppe attributes the potential bullish momentum for Bitcoin and other cryptocurrencies to the easing of monetary policies. He points out that the European Central Bank has recently opted to lower rates, setting the stage for similar actions by the Federal Reserve, including a potential return to quantitative easing.

In response to these developments, Van de Poppe recommends taking long positions in crypto, Bitcoin, and commodities.

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