|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Sei [SEI] Price Prediction 2023 - Will SEI Hit $1 This Year?
Sep 13, 2024 at 01:00 am
Sei [SEI] saw double-digit gains during this week's relief rally and looked poised for an extra uptrend.
Layer 1 altcoin Sei [SEI] looked poised for an extra uptrend after notching double-digit gains during this week’s relief rally.
The coin flipped the short-term supply zone at $0.28 into support and consolidated below $0.30 for two days.
After rising from $0.25 to $0.30 earlier in the week, SEI tucked a 15% gain. Can bulls continue with the winning streak?
SEI: The calm before the storm?
In Q3, SEI printed a consistent price action trend. Every price dump was reversed at $0.25 in July, August, and September.
This made it a crucial Q3 support. In the past two rebounds at the support, SEI eyed $0.35, triggering +35% gains in each rally after clearing the hurdle at $0.30 (marked red).
The current trend appeared to mirror the past two Q2 patterns. The early-week recovery already tipped 15% gains to SEI. However, at press time, the $0.30 hurdle had not been cleared yet.
But technical chart indicators suggested that SEI could push forward to $0.35. For example, the RSI (Relative Strength Index) was below overbought conditions, indicating more room for recovery extension.
If the Q3 trend repeats, late SEI bulls could seek market entry upon breakout retest at $0.30. The immediate targets would be $0.35 and $0.39.
However, a break below the Q3 support would invalidate the above bullish outlook.
On-chain and derivatives data say…
According to Artemis data, daily active addresses in the Sei network also showed a remarkable uptick from early September.
The metric jumped below 25K to above 55K in the past few days. This indicated network growth and activity and could boost the price recovery.
On the daily front, SEI was up about 5% on Friday. This uptick was marked by an 8% uptick in open interest rates (OI) and +41% in trading volume across the derivatives market.
This illustrated that SEI attracted significant liquidity injection from speculators expecting further price appreciation. The dominant bullish sentiment on the altcoin was further confirmed by long positions that dominated at 52%.
However, any sharp losses from Bitcoin [BTC] could drag SEI and invalidate the bullish thesis.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- $ALCX Airdrop Step-by-Step Guide: How to qualify for ALCHEMIX Airdrop?
- Sep 20, 2024 at 06:25 pm
- Redeeming your blockchain $ALCX tokens is simple! Just go through these quick steps and instantly use your tokens right away.
-
- European Commission Opens Proceedings to Enforce Apple's Compliance with the Digital Markets Act (DMA)
- Sep 20, 2024 at 06:25 pm
- The European Commission recently opened two proceedings to enforce Apple's compliance with interoperability regulations set out by the Digital Markets Act (DMA).
-
- BLUR's Monthly Token Unlocking Event Releases $6.94M Worth of BLUR Tokens
- Sep 20, 2024 at 06:25 pm
- BLUR's monthly token unlocking event has come around once again, with 39.46 million BLUR tokens, valued at $6.94 million, unlocked and transferred from the Blur unlocking contract to the 0x0A0 multi-signature address just 7 hours ago.
-
- UNI Early Investor Transfers $17M Worth of Tokens to Coinbase, Sparking Speculation
- Sep 20, 2024 at 06:25 pm
- Just an hour ago, the address sent 1.19 million UNI to the exchange, valued at $8.01 million.
-
- Celo Surpasses TRON in Daily Active Stablecoin Addresses, Signaling Africa's Stablecoin Breakout
- Sep 20, 2024 at 06:25 pm
- This week at @Token2049, the Celo Foundation and cLabs are making headlines as Celo's daily active stablecoin addresses recently surpassed those of @trondao.
-
- Claim $STRAX Like a Pro — Fast!
- Sep 20, 2024 at 06:25 pm
- Did you qualify for Stratis Airdrop?
-
- Dormant Bitcoin (BTC) Miner Wallets From the 'Satoshi Era' Suddenly Wake Up to Move $15M
- Sep 20, 2024 at 06:25 pm
- Several Bitcoin (BTC) miner wallets that have been dormant for over 15 years suddenly woke up and have moved 250 BTC worth over $15 million.
-
- Whale Activity Spikes for FTM, IMX, and BAT Following the Fed's Interest Rate Cuts
- Sep 20, 2024 at 06:25 pm
- The recent interest rate cuts by the Federal Reserve have triggered a surge in whale activity for key altcoins like Fantom (FTM), Immutable X (IMX), and Basic Attention Token (BAT), according to Santiment, a leading market intelligence platform.
-
- The Decentralized AI Society Launches to Ensure AI Serves Humanity's Broad Interests
- Sep 20, 2024 at 06:25 pm
- Crypto and Web3 industry leaders launched the Decentralized AI Society (DAIS), an umbrella organization helping builders of decentralized learning models, data providers, hardware suppliers and advocates of safe and beneficial AI to collectively ensure that artificial intelligence serves humanity's broad interests rather than a select few tech giants.