Anonymous cryptocurrency analyst Bluntz noted that SEI, a rival of memecoins PEPE and Solana, could soon experience a strong rise.
Accumulation is Observed in Altcoins
Bluntz said that there has been a clear accumulation in many altcoins, making it difficult to be pessimistic about the market. “There has been a clear accumulation process in many altcoins, and in my view it is very difficult to be pessimistic,” the analyst said in his commentary.
The analyst is of the opinion that SEI and PEPE in particular stood out in this process.
Technical Outlook of PEPE and SEI
The analyst noted that the SEI has broken out of a rolling bottom pattern and entered an uptrend. This technical pattern usually indicates that investors are accumulating the asset and are not allowing the price to fall further.
Bluntz added that PEPE has completed an inverse head and shoulders formation, giving a bullish signal. This formation usually indicates that the downtrend is over and that prices can expect an increase. “PEPE is heating up with the accumulation breakout,” the analyst said.
Bitcoin’s Expected Rally
On the other hand, Bluntz said that Bitcoin is on the rise as the Fed’s liquidity injections increase. $59,001He also stated that he believes that the index could soon start to rise, and added, “You didn’t ignore the Fed’s liquidity injection just because September typically brings declines, did you?”
Liquidity flows are often seen as a positive signal by investors because they indicate more capital can be invested in riskier assets. Bluntz has previously predicted that Bitcoin could reach an all-time high of $100,000.
The analyst’s comments point to potential movements in the cryptocurrency market. Technical indicators, especially for altcoins such as PEPE and SEI, may offer opportunities for investors. However, due to the volatile nature of the cryptocurrency market, it is important for investors to be careful and follow market analysis closely.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
