Sei (SEI) has caught the attention of traders after a strong move upward, with the token rising almost 10% in the last 24 hours to trade around $0.296.
The rally comes as technical analysts highlight a potential rebound forming on SEI’s three-day chart.
According to market analyst Ali, SEI has once again tested its 50-day simple moving average (SMA). The last time the token bounced from this level, it went on to record an impressive 120% rally. If history repeats, a new wave of bullish momentum could be underway.
The uptick in price has lifted SEI’s market capitalization to $1.81 billion, with 24-hour trading volume climbing over 27% to $162 million. Its fully diluted valuation (FDV) now stands at $2.96 billion.
Momentum around Sei has been gradually building over recent weeks, supported by renewed interest in altcoins across the market. With SEI currently hovering near a critical support zone, traders are watching closely to see if the breakout will extend further or face resistance.
For now, the combination of stronger trading activity and bullish technical signals has placed Sei back in the spotlight, raising expectations of a possible larger rally if buyers maintain control.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/sei-price-jumps-nearly-10-as-traders-eye-key-technical-rebound/