Altcoin Sherpa, a popular crypto analyst and trader, is sharing his positive outlook on a competitor of Solana (SOL) and offering predictions on three altcoins.

Firstly, Altcoin Sherpa discusses Sei (SEI), stating that the native token of this layer-1 blockchain may present a good trading opportunity as it currently sits at a crucial level. According to the analyst’s chart, SEI is resting on the 0.618 Fibonacci retracement level and is slightly below the 200 exponential moving average (EMA) on the daily chart. The Fibonacci retracement levels, which are based on Fibonacci numbers, are useful indicators for determining support and resistance levels. However, Altcoin Sherpa notes that SEI’s performance will heavily depend on Bitcoin.

Moving on to Pepe (PEPE), the memecoin, Altcoin Sherpa’s chart indicates that it is slightly above the 200 EMA and the 0.618 Fibonacci retracement level on the 12-hour chart. Despite its intimidating appearance, Altcoin Sherpa suggests that PEPE, along with other altcoins, is currently at decent support levels. Time will tell if these levels will hold.

Altcoin Sherpa also discusses Ethena’s (ENA) governance token, stating that he has accumulated ENA as it seems to be at a potential reversal point, just above the 0.50 Fibonacci retracement level. ENA experienced a correction from its all-time high earlier this month. Altcoin Sherpa appreciates this level of stability, especially considering Bitcoin’s volatility. However, he acknowledges that the outcome could go either way.

Lastly, Altcoin Sherpa turns his attention to Celestia (TIA), a blockchain designed to facilitate the creation of decentralized networks easily and affordably. TIA has caught Altcoin Sherpa’s interest due to its strong recovery following a significant market correction. He suggests that those with a high-risk tolerance may consider longing TIA at its current level.

It’s important to note that the opinions expressed by Altcoin Sherpa are not investment advice. Investors should conduct their own research before engaging in high-risk investments involving Bitcoin, cryptocurrency, or digital assets. Any losses incurred are the responsibility of the individual. Additionally, The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and readers should be aware of the risks involved.