Cryptocurrency expert and trader Michaël van de Poppe has a positive outlook on the potential for a bullish reversal in one of Solana’s challengers.
Van de Poppe, with a following of over 719,300 on the social media platform X, predicts that Sei (
SEI
) may be on the verge of a new wave of upward momentum.
According to the analyst, Sei has seen a decline of approximately 70% against Bitcoin (SEI/
BTC
) since January. Van de Poppe’s analysis suggests that Sei could find support at 0.0000006 BTC ($0.42) based on the daily timeframe chart.
Currently, Sei boasts a market cap of approximately $1.6 billion and is trading at 0.00000768 BTC ($0.543) at the time of this report.
Shifting focus to Bitcoin, Van de Poppe notes that the leading cryptocurrency is trading within a range of $67,800 and an all-time high of approximately $73,800. He anticipates that Bitcoin is poised for a breakthrough towards a new all-time high.
In the event of a bearish turn for Bitcoin, the trader highlights potential support levels for BTC at $67,789, $60,748, and $56,000.
Van de Poppe attributes the potential bullish indicators for Bitcoin and other cryptocurrencies to the easing of monetary policies.
“The European Central Bank’s decision to lower rates today marks the first Central Bank to do so. I believe it won’t be long before the Federal Reserve follows suit and reintroduces quantitative easing. This seems to be the only solution to our current economic circumstances. In response, I recommend holding onto crypto, Bitcoin, and commodities.”
Stay informed – subscribe to receive email alerts directly to your inbox and keep up with the latest price action by following us on X, Facebook, and Telegram.
Disclaimer: The opinions expressed by The Daily Hodl do not constitute investment advice. Investors are urged to conduct their own research before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please be aware that all transfers and trades are conducted at your own risk, and any resulting losses are your responsibility. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it serve as an investment advisor. Please note that The Daily Hodl engages in affiliate marketing.