With Bitcoin (BTC) perhaps making a local bottom after the recent dump, is now a good time to start taking some positions in altcoins? Are Avalanche (AVAX), Near Protocol (NEAR), and Sei (SEI) good possibilities for decent rallies? Not likely.With Bitcoin (BTC) perhaps making a local bottom after the recent dump, is now a good time to start taking some positions in altcoins? Are Avalanche (AVAX), Near Protocol (NEAR), and Sei (SEI) good possibilities for decent rallies? Not likely.

Avalanche (AVAX), Near Protocol (NEAR), Sei (SEI) ready to rally?

2025/09/23 19:29
3 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

With Bitcoin (BTC) perhaps making a local bottom after the recent dump, is now a good time to start taking some positions in altcoins? Are Avalanche (AVAX), Near Protocol (NEAR), and Sei (SEI) good possibilities for decent rallies? Not likely.

Keep an eye on Bitcoin

Before taking positions in any altcoins right now it is incumbent on all traders to assess in which direction Bitcoin (BTC) is likely to go over the next day or two. At present, it looks as though the $BTC price could be recovering from its recent dip. That said, it is by no means certain that there won’t be further downside in order to shake out the longs that are betting on the recovery.

$AVAX about to roll over?

Source: TradingView

On a very uncertain trading day the $AVAX price is up around 2.4% so far. That said, it can be seen that the price has stopped short of the $36 horizontal resistance and may be about to start the next corrective impulse. To boot, the price just failed to make a higher high. Even if there is some more upside for $AVAX, taking the trade while the 1-hour and the 4-hour Stochastic RSI indicators are on their way down would be a very risky move.

As it goes, a decent retracement would be back down to the $30 horizontal support level. A stronger bounce would be more likely to occur here. If the price falls through this level, a lower low below $29.40 would be a real note of concern. 

Another lower low for $NEAR

Source: TradingView

The $NEAR price appears to be falling back down after emerging above the $3 resistance level. This was turned into support for a while, but it seems that a lower low may have formed which looks as though it may repel the price back under $3 and turn it into resistance once again. There is still around an hour to go at time of writing in order for the bulls to turn this around and force the price back above the major level. Around $2.80 could be a decent level for a long if a retracement does take place.

$SEI rejects from 18-month long trendline

Source: TradingView

The $SEI price is possibly about to be rejected from a small descending trendline. The price is also at a resistance level and so it might be expected that this will indeed end up being a rejection. 

The main descending trendline is enormous. It started back in March 2024 and forms the main trendline for the whole of this bull market. Therefore, dipping back below it after making two more lower lows is a very bad sign. For $SEI to have any chance in the longer time frame, the bulls will need to break the main trendline again, push up through the $31 horizontal resistance, and make a higher high. Even for the short-term, $SEI does not look tradeable.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Market Opportunity
NEAR Logo
NEAR Price(NEAR)
$1.1631
$1.1631$1.1631
-1.44%
USD
NEAR (NEAR) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Why This New Trending Meme Coin Is Being Dubbed The New PEPE After Record Presale

Why This New Trending Meme Coin Is Being Dubbed The New PEPE After Record Presale

The post Why This New Trending Meme Coin Is Being Dubbed The New PEPE After Record Presale appeared on BitcoinEthereumNews.com. Crypto News 17 September 2025 | 20:13 The meme coin market is heating up once again as traders look for the next breakout token. While Shiba Inu (SHIB) continues to build its ecosystem and PEPE holds onto its viral roots, a new contender, Layer Brett (LBRETT), is gaining attention after raising more than $3.7 million in its presale. With a live staking system, fast-growing community, and real tech backing, some analysts are already calling it “the next PEPE.” Here’s the latest on the Shiba Inu price forecast, what’s going on with PEPE, and why Layer Brett is drawing in new investors fast. Shiba Inu price forecast: Ecosystem builds, but retail looks elsewhere Shiba Inu (SHIB) continues to develop its broader ecosystem with Shibarium, the project’s Layer 2 network built to improve speed and lower gas fees. While the community remains strong, the price hasn’t followed suit lately. SHIB is currently trading around $0.00001298, and while that’s a decent jump from its earlier lows, it still falls short of triggering any major excitement across the market. The project includes additional tokens like BONE and LEASH, and also has ongoing initiatives in DeFi and NFTs. However, even with all this development, many investors feel the hype that once surrounded SHIB has shifted elsewhere, particularly toward newer, more dynamic meme coins offering better entry points and incentives. PEPE: Can it rebound or is the momentum gone? PEPE saw a parabolic rise during the last meme coin surge, catching fire on social media and delivering massive short-term gains for early adopters. However, like most meme tokens driven largely by hype, it has since cooled off. PEPE is currently trading around $0.00001076, down significantly from its peak. While the token still enjoys a loyal community, analysts believe its best days may be behind it unless…
Share
BitcoinEthereumNews2025/09/18 02:50
USD/JPY Intervention: How Verbal Warnings Dramatically Slowed the Japanese Yen’s Slide

USD/JPY Intervention: How Verbal Warnings Dramatically Slowed the Japanese Yen’s Slide

BitcoinWorld USD/JPY Intervention: How Verbal Warnings Dramatically Slowed the Japanese Yen’s Slide TOKYO, March 2025 – Japanese authorities’ carefully calibrated
Share
bitcoinworld2026/03/30 23:25
USDH Power Struggle Ignites Stablecoin “Bidding Wars” Across DeFi: Bloomberg

USDH Power Struggle Ignites Stablecoin “Bidding Wars” Across DeFi: Bloomberg

A heated contest for control over a new dollar-pegged token has set the stage for what analysts say could define the next phase of the stablecoin industry. According to Bloomberg, a bidding war unfolded on Hyperliquid, one of crypto’s fastest-growing trading platforms, with the prize being the right to issue USDH, its native stablecoin. The competition drew some of the sector’s most prominent names, including Paxos, Sky, and Ethena, who later withdrew their bid, alongside the lesser-known Native Markets, a startup backed by Stripe stablecoin subsidiary Bridge. Hyperliquid Stablecoin Race Shows Branding and Partnerships Matter as Much as Tech Over the weekend, Hyperliquid’s validators, the contributors who secure the network and vote on key decisions, awarded the USDH contract to Native Markets over the weekend. Despite its relatively new status, the firm’s connection with Stripe helped it outpace more established rivals. Stablecoins underpin decentralized finance by providing a dollar-backed medium for collateral, settlement, and payments across applications. What began as a grassroots, community-led sector has evolved into a battleground for institutions and payment companies seeking revenue from interest on reserves. Circle, for example, shares proceeds from its USDC with Coinbase under a partnership designed to stabilize earnings during market swings. The Hyperliquid contest offered a rare glimpse into just how intense competition has become. Paxos pledged to take no revenue until USDH surpassed $1 billion in circulation. Agora offered to share 100% of net revenue with Hyperliquid, while Ethena put forward 95%. All were outbid by Native Markets, whose ties to Stripe’s $1.1 billion acquisition of Bridge and subsequent rollout of the Tempo blockchain positioned it as a strong contender. “Every stablecoin issuer is extremely desperate for supply,” said Zaheer Ebtikar, co-founder of Split Capital. “They are willing to publicly announce how much they are willing to offer. It just shows it’s a very tough business for stablecoin issuers.” While USDC remains dominant on Hyperliquid with more than $5.6 billion in deposits, the arrival of USDH could shift flows and revenue dynamics. Paxos co-founder Bhau Kotecha said the firm sees the exchange’s growth as an important opportunity, while Agora’s co-founder Nick van Eck warned that awarding the contract to a vertically integrated issuer risked undermining decentralization. Regulatory positioning also factored into the debate. Paxos operates under a New York trust charter and is seeking a federal license, while Bridge holds money transmitter approvals in 30 states. Native Markets, in a blog post, cited regulatory flexibility and deployment speed as reasons for its selection. Hyperliquid said the strong engagement from its community validated the process. Circle CEO Jeremy Allaire dismissed concerns over USDC’s status, noting on X that competition benefits the ecosystem. Analysts suggested that fears of centralization may be exaggerated, noting that Hyperliquid is likely to remain neutral and support multiple stablecoins. Still, the contest over USDH highlighted a new reality for stablecoins: branding, partnerships, and business strategy are becoming as decisive as technology. Native Markets Secures USDH Stablecoin Mandate on Hyperliquid Hyperliquid has concluded its governance vote for the USDH stablecoin, awarding the mandate to Native Markets after a closely watched process that drew weeks of community debate and rival proposals. USDH, described by Hyperliquid as a “Hyperliquid-first, compliant, and natively minted” dollar-backed token, is intended to reduce the platform’s dependence on USDC and strengthen its spot markets. Validators on the decentralized exchange voted in favor of Native Markets, a relatively new player backed by Stripe’s Bridge subsidiary, over established contenders including Paxos and Ethena. The outcome followed a string of proposals offering aggressive revenue-sharing terms to win validator support, underscoring the scale of incentives attached to controlling USDH. Hyperliquid’s exchange has become a critical hub for stablecoin liquidity, with $5.7 billion in USDC, around 8% of its total supply, currently held on the network. At prevailing treasury yields, that translates to an estimated $200 million to $220 million in annual revenue for Circle, underlining why a native alternative could be transformative. Hyperliquid’s validators, who secure the network and vote on key decisions, selected Native Markets following an on-chain governance process that concluded September 15. Native Markets has laid out a phased rollout for USDH, beginning with capped minting and redemption trials before expanding into spot markets. Its reserves will be managed in cash and treasuries by BlackRock, with on-chain tokenization through Superstate and Bridge. Yield from those reserves will be split between Hyperliquid’s Assistance Fund and ecosystem development. The launch of USDH comes as Hyperliquid records record profits from perpetual futures trading, with $106 million in revenue in August alone, and prepares to slash spot trading fees by 80% to bolster liquidity. Analysts say the move positions Hyperliquid to capture more of the stablecoin economics internally, marking a significant step in its bid to rival the largest players in decentralized finance
Share
CryptoNews2025/09/18 00:48