Sei (SEI) and Fantom (FTM) May Be Gearing Up for More Upside Bursts, Says Crypto Analyst

Pseudonymous analyst Altcoin Sherpa tells his 232,200 followers on the social media platform X that Sei (SEI) looks bullish after breaking out of a rounding bottom pattern on the weekly chart.

Cryptocurrency price analysis from a widely followed trader suggests that Sei (SEI), Near (NEAR) and Fantom (FTM) are setting up for more upside bursts.

The pseudonymous analyst, known as Altcoin Sherpa, shared his latest insights with his 232,200 followers on Twitter (NYSE:TWTR).

According to Altcoin Sherpa, SEI is looking bullish on the weekly chart after breaking out of a rounding bottom pattern.

A rounding bottom formation is a bullish reversal structure that typically indicates an asset is preparing for a new uptrend.

“SEI weekly.

I think this is a really strong chart. Rounding bottom breakout on the weekly, lots of narrative around the project (high-speed orderbook chain).

Fundamentals-wise, I think there needs to be a bit more built on there for people to gamble on but all in all, it looks really good for higher.

Grabbing a bag a bit lower if it comes. Something like $0.60 would be a decent entry in my opinion.”

At the time of writing, SEI is trading at $0.66.

Another altcoin on the trader’s radar is the smart contract platform Fantom (FTM).

According to the crypto strategist, FTM is looking solid for long-term investors, considering its strong fundamentals. He also says the coin is setting up for more upside after breaking out from a multi-month accumulation period.

“Something else I’m buying and holding for the next bull is FTM.

There’s a lot to like with this chart and project IMO (in my opinion):

-Andre [Cronje] cracked dev

-high float/not as much sell pressure from VCs (venture capitalists)

-Sonic rebrand coming that hits all the narratives

-chart-wise, almost a two-year accumulation period followed by some big moves and clean levels.

I’m in.

Don’t really recommend you buy at this current level, to be frank, but I think that buying any dips is a good thing. Still believe that this is a pretty decent one to hold if you’re looking for older 2021 movers that have high float/supply out (others like AVAX might be considered).”

Based on the trader’s chart, it appears that FTM is encountering a major resistance level at $1.10.

At the time of writing, FTM is changing hands at $1.00.

Turning to fellow layer-1 (L1) protocol Near (NEAR), the trader shared a chart that suggests the altcoin could be eyeing its resistance at $8.29 after clearing the $6.50 level.

“I think NEAR is setting up for a move up to the $7.29 resistance, maybe even higher if we get a strong breakout and close.

Otherwise, I’m not sure what else to say about NEAR.

It’s a good L1 project, lots of narrative around it (AI / L1 narrative), might be a good long-term hold.

Personally, I have a bag of this.

NEAR has pretty slow grinding price action and isn’t really a great active trade right now. That said, I do think that this hits a lot of narratives for this cycle in terms of AI (artificial intelligence) and L1.

Would like to see more growth on there / more degen stuff but I do have a bag of this.”

At the time of writing, NEAR is trading at $6.97.