SEI token is delivering an uptrend and has persisted in extending the gains, revealing the bullish momentum on the charts. Moreover, the SEI token continues to take support from the 20-Day EMA mark and is directing the gains beyond the bullish trajectory. Following the crypto market pump, the SEI token price has rolled over 110% in recent sessions and is still catching the attention of investors.
SEI token price is trading above the key moving averages and is directing bullishness on the charts. Furthermore, the trend is favoring the bulls and token has persisted in making the higher high pattern, signifying the bulls’ dominance. The price action highlights the buyers’ accumulation. Sellers were in trouble because of the spike above the $0.560 mark in the recent session.
At press time, SEI token was at $0.7299 with an intraday gain of 5.66%, showing buying momentum in the recent sessions. Moreover, the trading volume increased by 26.35% to $422.52 Million, highlighting investor interest. The pair of SEI/BTC was noted at 0.0000170 BTC, while the market cap is $1.31 Billion. Analysts are bullish and suggest that the SEI price will continue to attain the gains and may claim $1 soon.
SEI On Daily Charts Displays Bullish Momentum
On the daily chart, the SEI token price has recovered from the bottom of $0.210, leading to a massive spike in the past number of weeks. This indicates the demand for the token, which shows the SEI token from plinth to paramount and flips the trend from bearish to bullish.
The relative strength index (RSI) curve stayed above the midline in the overbought zone, directing buyers’ strength. Moreover, the MACD indicator showed a bullish crossover and is replicating outperformance.
SEI On Weekly Charts Exhibit Breakout
On the weekly chart, massive follow-on buying momentum was witnessed, and the SEI token continued to surge, demonstrating investor interest. Moreover, the token has surpassed the crucial hurdle of $0.700 and will is likely to claim the $1 mark. Amidst the positive sentiments, the SEI token did not take a break and continued to carry forward the gains, which signifies strong buying momentum.
Summary
SEI token has reached the bullish trajectory and continues to spray the gains, delivering outperformance for the past sessions. Furthermore, the trend is strong, and buyers persist in accumulating the token. Additionally, the sellers are trapped and are covering their positions, which indirectly extends the rally to which will ultimately redirect SEI token towards $1.
Technical Levels
Support Levels: $0.7000 and $0.6700
Resistance Levels: $0.8000 and $1
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
Source: https://www.thecoinrepublic.com/2024/01/14/sei-price-prediction-are-bulls-anticipating-to-catch-1-level/