Soralis Weekly 1.0
Disclaimer: We ourselves are also traders and investors. We also execute on most (if not all) of the plays that we share as alpha. Hence, it could also be assumed that we are holders and have a bag of majority of the projects mentioned below.
Disclaimer: All insights and perspectives shared are of our own. Remember that none of this is to be considered “Financial Advice”. We are not to be held liable for any of your investment decisions.
$BTC:[BTC/USDT: 12h Timeframe]
See the vertical broken line marked in Orange? That’s the halving. That’s happening this week.
Clear rejection of breaking out of the bullish pennant that was printed. We’ve just now visited our local support zone. (Orange Area)
I’m expecting an extended period of consolidation from here until the halving; even for several weeks after the halving.
I’d like to see this orange support zone above 61000$ during this period as well.
A sweep of liquidity around the 58000$ area is also possible, it makes sense to fill the wick from here. However, do note that if we break down from those prices, the next key support zone is all the way down to 52000$.
If you take a peek at the weekly chart, we’ve actually already been in “up only” mode since mid-2023.
That being said, every dip is a buy for me. Everyone needs to understand that this is a bull market. Price dictates everything.
Price action has not gone silly yet. I do not feel euphoric. I am still a buyer.
TOTAL3:[TOTAL3/USDT: 3D Timeframe]
Total3 is the entire Crypto Market Cap Excluding $BTC, $ETH. It’s a good indicator of what’s happening to the ALT market.
Given that this is a higher timeframe than we usually monitor, I’ll be keeping my bias the same on a weekly basis until we have a strong enough move to change it.
We’re come just below equilibrium given the range of the highs of the previous bull and lows of the bear.
While some alts like $SOL and $ETH are on their journey to breaking their previous ATH’s. Some coins like $DYDX haven’t even broken out of accumulation stages.
It’s around an 84% move to the upside just to reach ATH again. Price Discovery only begins from there.
While it might seem worrisome that we rejected the highs and broken down from a key support zone. It’s important to note that consolidation and retracements are common to see before/after major market events like the halving.
It makes complete sense for liquidity to flow towards $BTC first since, of course, the halving is a Bitcoin event.
Expect liquidity to trickle back down to our beloved alts soon after.
Once ATH is broken, the TRUE alt rally begins. You ain’t see nuthin yet.
$SEI:[SEI/USDT : 12h Timeframe]
Like $BTC and a lot of strong performers during the early-bull ($TIA, $INJ, $DYM). We are re-gathering strength and consolidating before the next move.
Calling it as I see it. The unsuccessful breakout of the pennant and failure to hold support was definitely bearish on the LTF.
Clear breakdowns of structure support at 0.67$ and 0.55$. Still waiting for a clear sign of reversal from the downtrend on this one.
Filling the wick at 0.41$ makes sense to me, it will also be a visit to one of the most significant historical support zones of $SEI. A breakdown of this zone would mean a visit to the FVG at around 0.31$.
Given the blood that alts are showing now, I do think this is one of the few shake-outs that take place before the ALT rally, post-halving.
I also believe $SEI team pushes hard and they WILL capitalize on retail-liquidity that comes post-halving.
It’s important to remember that $SEI still has a huge catalyst by their side in the form of $SEI v2 which is expected to drop within the next month or so.
Translation: This is the time to buy.
Blood is your friend. Do not wait for V2 before deciding to accumulate spot.
$SEIYAN:
One of the first memecoins on $SEI. Definitely our “OG”.
Local top was marked at around 10th of March. Has been trending downwards since then.
Currently 550% gain away from ATH which I’m confident we will hit once the V2 rotation kicks in.
Repeated breakdowns of support show signs of weakness and interest. It also doesn’t help that the price of the mother chain is tanking as well.
Key consideration would be whether this current support area holds or not. Seems as if so since we saw some price rejection to the downside.
I’m comfortable seeing some low-volume consolidation from here until we gain enough strength to break the downtrend.
Given that $SEIYAN is the flagship memecoin on $SEI. I definitely think if you want a more high-risk, high-reward exposure to the ecosystem, you’d want to have an allocation of this in your portfolio.
I will say this now and I will say it repeatedly throughout the future… SEI V2 will bring in uncomprehensible amounts of liquidity and volume to the ecosystem. Now is the time to position yourself accordingly.
$MILLI:
The people’s meme?
After a brief dance above 9M MC, $MILLI topped out and has been moving to the downside since. Once the key support zone at 0.000016 didn’t hold, it has been free falling from there.
Key reasons for the fall was the recent listing on MEXC being categorized as a “sell the news” event, a lot of early buyers and airdropped holders have decided to exit simultaneously.
After the 80% nosedive, we’re still searching for support. (shit even i’m looking for support).
The downtrend is slowly losing momentum as sellers are exhausted. It makes sense to see some consolidation here before we even consider the reversal of the trend.
Large drops like this have always been common for memecoins. The team has remained consistent and transparent which gives me (a holder with a big bag) some confidence despite the blood.
Now if your risk appetite is up for it and you’re looking to bid. I’d definitely be monitoring the chart for signs of strength ESPECIALLY if the current support levels hold. It’s either going to be a knife catch or you’re going to be bidding the bottom.
Like $SEIYAN, I think $MILLI is a great hold in your portfolio, especially if you are a long-term believer in $SEI and the liquidity that V2 will bring.
Remember that all our memes and jpegs are leveraged bets on the $SEI ecosystem. No rallies will be made if $SEI disappoints. You should bid only if you believe in the future of $SEI.
NFT Market Overview:
We’re still seeing a huge lack of volume and activity within the NFT Market. A lot of builders are still waiting for V2 to launch their products. Lots of people following the liquidity on $SOL and $BASE as well.
Huge Lack of Buyers, Sales and Volume.
We skyrocketed from 20k average NFT Sales [per week!] to 50k back in January.
We then ranged from 30–45k in February.
Ever since the halfway point of March, we have been averaging less than 10k NFT sales per week.
This week, we only managed 8.7k transactions. More than an 80% difference from our peak average.
Our peak for NFT Sellers and Buyers were 18k and 9k respectively. Now we have 3k sellers and 1.3k buyers.
My only input… given this data, is that the market will reward patience and conviction. Do you have enough patience and conviction to stick around?
Still pretty straightforward. Volume across the board still flowing towards our most known projects. (Seiyans, Bumps, Dob, Yaka).
The Farmors by Silo Stake launched their free mint last week. Was steady at 90 and has been trending downwards since.
Since it was a free mint, folks are naturally taking profit. I’m expecting them find their fair price once their floor stabilizes.
Key indicator to look at is “Listed Count”. Price stability will only be found once papers are shaked out.
Naked Llama Syndicate has also been pumping from rumors that they will be purchased by an ecosystem giant. I’m playing this very cautiously and will probably wait for an official announcement instead.
I am not worried despite the lack of activity and volume in our ecosystem. Rotators will eventually find their way to $SEI. The best thing to do now is to place your chips on builders and position yourself for the high influx of liquidity that will come with V2.
SEI Spotlight of the Week (Post-Mint)
Bulls On SEI:
Came from a free-mint, now hovering at around 60 SEI FP.
Why?
IcyTools of $SEI.
Check their dashboard. <link below>
- They offer projects’ social checker, on chain statistics (Volume, txns, floor, and holders) and a buy button that redirects you to Pallet.Incoming Tools:
- Whale Watching (Wallet Tracker)
- Rarity v Price GraphBullish that all of this has been built from a free mint + Royalties (which usually aren’t much).
True community has been built (Shoutout to Community Lead @RoyOnSEI , I suggest taking a look at their server to feel out the vibes too.
At only 45SEI with only 46/1500 Listed. A supply shock is definitely a possibility.
(Their dashboard is token gated so you will only need one. But there are only 1500 in circulation and if the NFT Ecosystem picks up some steam again, you’re going to want access to these tools.)
Team:
Founder: samwise8357 (Discord)
Community Manager: https://x.com/royonsei
Collab Manager — matt4313 (Discord)
Socials / Portfolio:
https://dashboard.seibulls.com
SEI Spotlight of the Week (Pre-Mint)
The Strays:
- 4444 Supply : Free Mint
- Building Social Tools for Community Building on $SEI.
Rundown:
Building SyncX which is an engagement bot for discord.
(Subscription Based and NFT Gated)Engagement Tools:
- Raid 2 Earn
- PFP, Banner, Follow to Earn Tool
- Raffles + Auctions
- Games like Dice, Coinflip, Slots.Team came from Polygon and founded a branding studio called “Spot Studio”
Previous Clients: https://x.com/IcedOutCoinFlip and https://x.com/DanketsuNFT
Why?
Low Risk play since it is a free mint.
Founder + Team is apparently fully doxxed (looking into this)
Engagement Tools are really useful for project founders especially in a booming NFT Ecosystem. (see: https://twitter.com/AlphaPharaohs on $SOL)
Main Competitor is https://twitter.com/WeaseilsNFT so it’ll be interesting to see how they fare against each other.
Socials/Portfolio:
https://www.syncx.bot/
Previous Collection: https://x.com/LeopardLabsNFT https://opensea.io/collection/the-leos-5
Team:
Co-Founder : https://x.com/ApolloXE_
Founder + Artist: https://x.com/Maven1408
SEI Relevant News:
@compass_wallet has added support for Sei V2.
@Pallet_Exchange and @rarible have entered into a collaborative partnership.
@Seif_Wallet has debuted the first Passkey-First Wallet on the Sei network.
@dobnfts announced it has exceeded 3 million $SEI in sales since its launch.
@fraxfinance is set to integrate into Sei V2, bringing decentralized stablecoin and ETH liquidity.
@jlyvrs has submitted a proposal to make Jelly Swap a friendly fork of @Balancer.
@seiyansnft successfully hosted their first @OrdinalSeiyans auction on Magic Eden.
@minegonetwork has confirmed its deployment on V2.
@seiyantoken9000 is now officially backed by @Kawafinance.
@phillip_xyz launched the Sei Fitness Club TG chat focusing on non-cardio activities.
@mrktexchange introduced new leaderboards and an XP System.
@YakaFinance celebrated with a High Tempo Night event.
@AstroGuys_sei reports over 500 stakings.
@Pallet_Exchange has processed over 1.4 million transactions since January.
@SeiMutants’ collection has completely sold out.
@seidotgame has gone live with a leaderboard on its platform.
@beefonsei launched a collection titled “Just Beef.”
@webump_ boasts 123k users and 622k transactions on the Sei Network.
@GrapesSEI has initiated its burning process.
@LlamaSyndicate has begun a new chapter.
@SeiGoblins has introduced Non-Custodial Staking.