Top Trader Bullish on One Solana Rival After Price Range Breaks – Here’s His Outlook

A seasoned trader is feeling optimistic about a Solana competitor after it broke through a significant price range. The trader, known as The Flow Horse, believes that Sei (SEI), the native asset of the layer-one blockchain, is showing strength after surpassing a multi-month resistance level around $0.40. The trader expressed a default bullish bias towards SEI and plans to add more to their position unless proven otherwise. However, the trader also warns that not all altcoins will continue to increase in value, citing the example of Shiba Inu (SHIB) as a potential short-selling opportunity due to its overextended rally. The Flow Horse notes that losing key support levels on SHIB, especially with a large open interest boost, could lead to a significant decline in its value. At the time of writing, SEI is up over 4% in the past day, while SHIB is down over 5%.