A cryptocurrency analyst said one Solana (SOL) rival is showing signs of strength in the market despite Bitcoin (BTC) falling below $90,000.
Pseudonymous analyst Pentoshi told his 822,400 followers on social media platform
“SEI is another one that not only looks great with high period conversions and clear voids, but has also held up very well like many alternatives to this BTC pullback. Here are the daily and weekly ones. Let’s compare it to a similar setup shared (November 23): As BTC calms down, Alt should continue to rise.”
As of this writing, SEI is trading at $0.69, up 12.9% in the last 24 hours.
Analysts are also bullish on modular blockchain network Celestia (TIA) after the native token overcame resistance at around $7.00.
“It’s really strong and we need to keep getting higher and higher.”
TIA is currently trading at $8.22 and is up 3.9% in the last 24 hours.
Analysts believe that many altcoins could surpass Bitcoin. He shares a chart of Bitcoin dominance (BTC.D) suddenly breaking out of the 60% range. The BTC.D index tracks Bitcoin’s share of the overall cryptocurrency market capitalization. The bearish BTC.D chart suggests that the altcoin will soon outperform Bitcoin.
“It looks much more compelling (now) and our large/mid cap stocks have seen significant movement in both the USD and BTC pairs.”
At the time of writing, BTC.D is sitting at 58.61%.
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