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Home»ALTCOIN NEWS»Trader issues warning to Solana rival, up 247% in one month, updates outlook for LDO, other altcoins
ALTCOIN NEWS

Trader issues warning to Solana rival, up 247% in one month, updates outlook for LDO, other altcoins

By Crypto FlexsJanuary 18, 20242 Mins Read
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Trader issues warning to Solana rival, up 247% in one month, updates outlook for LDO, other altcoins
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A widely respected cryptocurrency strategist has warned that Solana (SOL) rival, which has more than tripled in the past 30 days, is signaling that it may have hit a near-term high.

An anonymous analyst known as Altcoin Sherpa told his 205,700 followers on social media platform

“Why it looks good:
– Consolidation and very optimistic high time frame market structure
-Still strong on all time zones
-EMA (exponential moving averages) are all catching up and other alternatives also look strong.

Why not:
– This could be the exhaust pump and the last big move here.
-Can rotate from other seasons (SOL/SEI/etc/) to ETH season (also known as ARB/LDO/OP).
– Dying sheep/Here are the signs of distribution.”

source: Altcoin Sherpa/X

As of this writing, SEI is trading at $0.785, up more than 247% from its 30-day low of $0.226.

Traders are also paying attention to the price movement of Lido DAO (LDO), a liquid staking service on the Ethereum (ETH) blockchain. Altcoin Sherpa says he remains bullish on LDO but expects a correction towards the 0.382 or 0.5 Fibonacci retracement levels.

“LDO: Checking this out, I expect a solid entry around $2.75-$3. “Overall, we remain optimistic.”

video
source: Altcoin Sherpa/X

As of this writing, LDO is worth $3.45.

The last altcoin on traders’ radar is Xai (XAI), where X is a gaming-focused cryptocurrency project. Altcoin Sherpa believes that it is likely that XAI will revisit its immediate support levels before moving higher.

“XAI: $0.90 would probably be a solid entry point.”

video
source: Altcoin Sherpa/X

As of this writing, XAI is worth $1.04.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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