Key takeaways
- SEI is likely one of the greatest performers among the many prime 100 cryptocurrencies by market cap, up almost 2% within the final 24 hours.
- It may rally to the $0.2 stage regardless of the bearish market circumstances.
SEI outperforms the broader crypto market
SEI, the native coin of the Sei ecosystem, is likely one of the greatest performers among the many prime 100 cryptocurrencies by market cap. It added almost 2% to its worth over the past 24 hours and now trades round $0.17.
There isn’t a catalysts behind SEI’s newest constructive efficiency because the broader crypto market underperforms. Bitcoin and different main cryptocurrencies are at the moment within the pink as the continuing battle within the Center East continues to have an effect on the broader monetary markets.
The overall cryptocurrency market cap has declined to $3.25 trillion, down 1.54% within the final 24 hours. Nonetheless, SEI is the perfect performer within the prime 100 because it added 2% to its worth throughout that interval.
SEI targets the $0.2 resistance stage
SEI may rally increased within the close to time period if the bulls stay in management. The technical indicators are turning constructive, however SEI remains to be topic to occasions within the broader cryptocurrency market.
If the bullish momentum will increase, SEI might be testing the $0.2 resistance stage within the coming hours or days. Nonetheless, with the broader market nonetheless bearish, SEI may possible retest the $0.15 assist stage quickly.
The MACD remains to be inside the unfavorable territory, indicating that SEI remains to be bearish within the increased timeframe. Moreover, with an RSI of 42, SEI remains to be within the offered area and will expertise additional promoting strain if it doesn’t hit the 50 RSI stage quickly.
Nonetheless, the market may seize liquidity across the $0.1871 area earlier than any downward motion. Merchants ought to control in the present day’s FOMC as that might play a key function in SEI’s efficiency within the close to time period.
