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The Flow Horse, a cryptocurrency analyst followed by many, has shared positive insights regarding SEI, a competitor of Solana 
$163 (SOL). The analyst’s confidence in the altcoin has increased as SEI has broken through the crucial resistance level of $0.40.
Current Price Performance of SEI
The Flow Horse noted that SEI is in a positive trend after surpassing a multi-month resistance level. Although SEI briefly exceeded the $0.50 mark, it is currently trading at $0.469, reflecting a 4% increase in the last 24 hours.
Analyst’s Views and Investment Strategy for SEI
The Flow Horse acknowledged that while trading volumes may decline, the outlook for SEI remains positive. He pointed out that altcoins like Shiba Inu (SHIB) could present short-term selling opportunities:
Since it’s the weekend, my trading volumes will be low, but look at SEI. In such cases, I must be bullish by default.
The analyst stated that SHIB currently offers opportunities for short positions and emphasized that the market appears to be saturated. He shared the SHIB chart alongside open interest data to illustrate this point:
Be cautious in thinking there are no good short opportunities left. Is SHIB a good short position here? Maybe, if a short correction is approaching.
SHIB is currently trading at $0.000019, having dropped over 5% during the day. The Flow Horse stressed that the altcoin market will always present opportunities, urging investors to monitor market movements closely.
Overall Status of the Altcoin Market
While the altcoin market shows strong performance overall, The Flow Horse highlighted the need for caution. He noted that opening short positions on assets experiencing excessive growth could be tempting.
Market participants are expected to show increasing interest in projects like SEI as they continue to perform well. Investors should closely monitor SEI’s future movements to adjust their strategies accordingly.
Overall, the volatility in SEI and other altcoins reflects the dynamic nature of the cryptocurrency market. Investors need to make informed decisions by tracking market trends closely.
SEI’s recent performance and The Flow Horse’s positive views provide potential opportunities for investors. With ongoing fluctuations in the cryptocurrency market, conducting careful analyses may prove beneficial.
