Solana
Analyst Michaël van de Poppe Says Solana Rival’s Upward Momentum Is ‘Inevitable’, Updates His Outlook on Bitcoin
Cryptocurrency analyst and trader Michaël van de Poppe believes that a certain Solana (GROUND) the challenger may be preparing to witness a bullish reversal.
Van de Poppé tell his 719,300 followers on social media platform X, that a “new wave of upward momentum seems inevitable” for Sei (SEI).
Source: Michaël van de Poppe/X
According to the widely followed crypto analyst, Sei has depreciated by around 70% against Bitcoin (SEI/BTC) since January. Based on the Van de Poppe chart on the daily time frame, Sei could find support at 0.0000006 BTC ($0.42).
Sei, which currently has a market cap of around $1.6 billion, is trading at 0.00000768 BTC ($0.543) at the time of writing.
When it comes to Bitcoin, Van de Poppe says the flagship crypto asset is stuck in a range between $67,800 and an all-time high around $73,800. According to the analyst, Bitcoin is “strongly poised for a breakout to a new all-time high.”
But if Bitcoin becomes bearish, the trader actions a chart showing potential support zones for BTC including $67,789, $60,748, and $56,000.
According to Van de Poppe, the upward trend catalysts for Bitcoin and other crypto assets will be the easing of monetary policy.
“The European Central Bank decided today to lower its rates.
It is the first central bank to do so and I think it is only a matter of time before the Federal Reserve decides to do the same and restart quantitative easing.
This is the only way out of this economic situation.
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