With the Bitcoin price holding its value above the $63,000 mark, the crypto market continues experiencing a strong bullish recovery. Furthermore, with the recent developments in the Decentralized Finance (DeFi) ecosystem, the SEI crypto has come under the limelight.
Further, investors are curious about its future prospects with questions like “Why is SEI Crypto rising?” and “How High will SEI price go?”. Planning on investing in this digital asset? In this article, we have uncovered the short-term mysteries of the Sei (SEI) cryptocurrency.
SEI Coin Price Hints A Bullish Breakout!
Amid increased market volatility, the SEI price has jumped 10.64% within the past day with a trading volume of $236.55 million. Furthermore, it has jumped 29.67% over the past week and 35.97% during the past month.
Moreover, with a circulating supply of 3,524,861,111 tokens and a market capitalization of $1.35 billion, it has secured the 54th position in the global cryptocurrency market list.
The Simple Moving Average (SMA) has displayed a bullish convergence in the 1D time frame. This indicates an increase in the buying-over-selling pressure for the altcoin in the market.
Further, the MACD indicator records a constant rise in the green histogram with its averages showing a constant uptrend. This suggests a positive outlook for the SEI crypto price in the coming time.
How High Will SEI Go In 2024?
If the market continues to gain momentum, the SEI price could breach its resistance level of $0.40 and head toward its upper level of $0.6015. Maintaining the price at that level will set the stage for this altcoin to prepare to test its upper high of $0.78.
On the flip side, a bearish reversal could pull the price of the SEI token toward its crucial support trendline of $0.22 during the upcoming weeks.
Also read, Bitcoin Price Prediction 2024 – 2030
Source: https://coinpedia.org/price-analysis/sei-crypto-records-2-month-high-eyes-to-hit-0-65-this-uptober/