A Bullish Signal For SEI Crypto?

Sei price continues to fluctuate near the previous day’s high on Saturday and is forming a doji candlestick over the daily chart. The crypto registered a positive growth in the past couple of sessions which helped the price rise near the higher boundary of the consolidation zone.

Moreover, the SEI crypto entered a correction phase after the buyers failed to break above the previous high thus forming a double top pattern. The price then dropped below 20-Day EMA, however, it then stabilized near the 50-Day EMA. 

The 50 day EMA acted as a dynamic support and halted the further downward momentum. 

Currently, the crypto hovers in a consolidation range with resistance near the $0.75 level and support near the $0.55 level. The breakout or breakdown may decide the next clear trend in the short term. 

Sei Crypto Trend Analysis

The daily chart witnesses the formation of a double bottom pattern near the 50 day EMA. The price currently hovers near the neckline area and may register a breakout soon.

Now, the crypto may maintain its correction phase until it consolidates in the range. Any breakout above $0.75 may indicate the end of the correction phase and the crypto surge high to conquer higher swings. 

Also, if the sellers dominate near the upper levels and the crypto breaks below the 50-Day EMA it may invalidate the condition of bottoming out and the more downside levels of $0.5 and $0.45 may be tested.

Sei Crypto Technical Analysis

From a technical perspective, the Sei cryptocurrency has reclaimed the bullish territory after the breakout of the 20-Day EMA. Currently, the crypto hovers above all the key EMAs suggesting a strong outlook.

At the time of writing, the RSI was at 55.6 points and the 14-Day SMA line was at 49.9. The RSI line has made a bullish crossover of the SMA line suggesting a positive sentiment being built up.

Sei Price Prediction for February 2024

The positive view of analysts predicts an upside potential of nearly 24.7% by February end, which could take the Sei price near the $0.86 level. On the other hand, the bearish view of analysts hopes for the breakdown below 50-Day EMA after which the price could test lower levels of $0.5 and $0.45.

Sei Price Prediction for 2024

The price prediction for 2024 shows that the Sei may advance to a high of $1.06 by the end of 2024 if the positive conditions prevail.  On the other side, The less optimistic analysts estimate a price target of $0.881 by the end of the year.

Sei Price Prediction for 2025

As per the most positive view of our analysts, the price may hit the $1.70 mark, suggesting an upside potential of 149.14% by 2025. The pessimistic view of the analyst assumes that the price could reach $1.19 by the end of the financial year 2025.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.