Trader Bullish on Altcoin in Bitcoin Ecosystem, Reevaluates SEI and BONK Outlook

Altcoin Sherpa, a crypto trader with a large following, expresses a positive outlook on a particular altcoin that operates within the Bitcoin (BTC) ecosystem.

The analyst, who remains anonymous, shares with his 205,000 followers on the social media platform X that Stacks (STX) possesses significant upward potential.

“STX: entry at $1.75 or around there would be excellent. Eyes on this one. I think it’s really got a lot of room to run.”

Upon reviewing the chart, the trader proposes the possibility of STX revisiting the support level at $1.73 before a potential rebound.

Stacks is a project that strives to facilitate the implementation of smart contracts and decentralized finance (DeFi) applications on the Bitcoin blockchain.

As of the current time, STX is trading at $1.90, having recently hit a 24-hour low of $1.68. Moving on, the trader expresses confidence in The Sei Network (SEI), a competitor of Solana (SOL), stating that it continues to experience an upward trend.

“SEI: I would like to see it come back to the .382 ($0.58) level here again and consolidate, similar how it did around $0.22. Still bullish until shown otherwise here but wouldn’t be surprised to see a little cooling.”

At the time of writing, SEI is trading at $0.78, showing an increase of over 17% in the past 24 hours. Finally, the trader predicts that Bonk (BONK), a memecoin, has the potential to reach two higher price targets in the near future.

“BONK: makes sense that BONK bounced at the recent low. I didn’t personally play it. If you’re in this from higher (or lower), I think that you’re going to get a good opportunity for some dead rally coming (eventually). Would be a seller around $0.0000163 and also $0.0000180ish.”

As of the current time, BONK is trading at $0.0000161, reflecting a 15% increase in the past 24 hours.