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- SEI shows resilience post-correction, with potential buying opportunities highlighted by critical technical indicators.
- Wormhole maintains crucial support, with staking functionality boosting its market position.
- Polkadot’s focus on Real World Assets and ecosystem projects drives gradual value ascent, with resistance levels at $9.30 and $17.00.
Cryptocurrency analyst, Michael van de Poppe has offered insights into the current market trends of several cryptocurrencies, including SEI, Wormhole ($WORM), and Polkadot ($DOT). According to his analysis, these digital assets show potential for growth amid ongoing market fluctuations.
SEI has experienced correction following the BTC ETF listing and is now poised for an upward trajectory. Despite a more than seventy percent correction, SEI is showing resilience, with a current price of $0.539356 and a 24-hour trading volume of $89,296,390.
A new round of upwards momentum seems inevitable as $SEI has corrected more than seventy percent since the BTC ETF listing. pic.twitter.com/GR6x3dSHti— Michaël van de Poppe (@CryptoMichNL) June 7, 2024
Notably, SEI’s circulating supply is 2,925,000,000 SEI coins, with a market cap of $1,577,615,404. Michael highlights critical technical indicators, including the Relative Strength Index (RSI) and volume dynamics, suggesting potential buying opportunities.
Wormhole is maintaining a crucial support level at $0.60. The recent launch of staking functionality has further solidified its position in the market. With a current price of $0.674201 and a trading volume of $241,093,599 in the last 24 hours, W exhibits an upward trend, showcasing an 8.67% increase. Its circulating supply of 1,800,000,000 W coins contributes to a live market cap of $1,213,561,447.
$W holding its important level and staking went live.As long as it holds $0.60, it should be fine. pic.twitter.com/Xr4NESLvOO— Michaël van de Poppe (@CryptoMichNL) June 6, 2024
Furthermore, Polkadot (DOT) is a promising asset fueled by fundamental growth initiatives. Michael underscores DOT’s focus on Real World Assets (RWA) and its involvement in ecosystem projects like Centrifuge and Energy Web.
Despite minor fluctuations, DOT is gradually ascending in value. Its current price is $7.22, and its 24-hour trading volume is $160,597,374. Its market cap is $10,384,055,101, and its circulating supply is 1,437,953,431 DOT coins.
Source: CryptoMichNL
Analyzing the technical aspects, van de Poppe points out crucial resistance levels for DOT at $9.30 and $17.00. The chart indicates the establishment of a new higher low, suggesting the possibility of a bullish continuation. The Relative Strength Index (RSI) reflects ongoing momentum, laying the groundwork for possible price surges in the near future.
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