The cryptocurrency market experienced a serious shake-up last weekend following increased geopolitical tension. However, he managed to get over it in a short time. As we leave a week behind, the dominance of green color in the market, led by Bitcoin, stands out. Amidst these developments, one analyst with a large following says that a Solana rival altcoin is creating a good trading setup. The analyst is also updating the outlook for ENA, TIA and PEPE coins.
According to the analyst, SEI will be a good trade!
cryptokoin.comAs you follow from , the market revived as the countdown for Bitcoin’s halving began. Bitcoin and many altcoins are moving in the green zone. The analyst, nicknamed Altcoin Sherpa, begins his evaluations with Solana rival Sei (SEI). The analyst says SEI sits in a very important space. That’s why he states that “it will be a good trade”.
According to the chart shared by Altcoin Sherpa, SEI is near the 0.618 Fibonacci retracement level and slightly below the 200 exponential moving average (EMA) on the daily chart. Meanwhile, Fibonacci retracement levels are based on Fibonacci numbers. Additionally, analysts use these indicators to determine support and resistance levels. However, the analyst also states that the fate of SEI will largely depend on Bitcoin.
Meanwhile, at the time of writing, SEI was trading at $0.556, with gains of over 10% on a daily basis. However, the token lost approximately 17% on its weekly chart.
Altcoin Sherpa: I’m saving ENA!
The analyst next looks at decentralized finance (DeFi) protocol Ethena (ENA). Altcoin Sherpa says ENA is at a potential retracement point (just above the 0.50 Fibonacci retracement level) following a correction from the ATH level reached earlier this month. That’s why he states that he saved ENA. In this regard, the analyst said, “I like this level. Additionally, Bitcoin has not moved much considering its volatility. “Whether it will be devastated or good, I don’t know.” says.
Meanwhile, ENA was trading at $1.01 at the time of writing, up over 11% on a daily basis. However, the token saw a 28.5% loss on the board chart.
TIA and PEPE Coin predictions
Finally, the analyst shares his final evaluations for TIA and PEPE coin. First, the analyst takes a look at the popular meme coin Pepe (PEPE Coin). According to the chart shared by Altcoin Sherpa, PEPE Coin price is slightly above the 200 EMA and 0.618 Fibonacci retracement level on the 12-hour chart. Based on this, the analyst said, “PEPE Coin looks really scary. But many altcoins are at some good support levels. Let’s see if they can stand it.” says.
After PEPE Coin, TIA is next. Altcoin Sherpa says TIA looks attractive for accumulation right now, having made a strong recovery following a significant market correction. IN THIS context, the analyst said, “Honestly, if you have balls of steel, I might try to keep TIA around for the long haul.” says.
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