Key takeaways
- SEI has reclaimed the $0.30 psychological degree, paving the best way for additional rally.
- The optimistic efficiency comes regardless of Bitcoin and different main cryptocurrencies recording losses.
SEI rallies as BTC and others falter
SEI, the Forty seventh-largest cryptocurrency by market cap, is likely one of the greatest performers within the high 100 over the past 24 hours. The coin added 5% to its worth throughout that interval, permitting it to reclaim the $0.30 mark.
The optimistic efficiency comes regardless of Bitcoin, Ether, XRP, and different main cryptocurrencies recording losses. Bitcoin didn’t construct on its earlier momentum and now appears set to drop beneath $106k quickly.
SEI’s rally comes after the coin added 80% to its worth final week. With the bulls nonetheless in management, the coin might resume its upward rally quickly and set a brand new 6-month excessive.
SEI might rally to $0.430
The SEI/USD 4-hour chart is bullish and environment friendly, indicating a bullish bias for the cryptocurrency. The effectivity exhibits that the market has swept liquidity to the draw back and will doubtless rally increased within the quick time period.
The pair has an RSI of 60, exhibiting that SEI is at the moment dealing with shopping for strain from buyers. In the meantime, the MACD strains have additionally crossed into optimistic territory and skim 0.0108, additionally suggesting that patrons are in management.
With the bullish development now resuming, SEI might goal the primary main resistance degree at $0.3516. An prolonged rally would permit SEI to hit the $0.430 degree for the primary time since January 2025. Nonetheless, this rally would doubtless rely upon the broader crypto market and the way Bitcoin’s value motion performs out.
There may be nonetheless an opportunity that the market might flip bearish. Any bearish value motion might see SEI retest the $0.24 low. An prolonged bearish run would see SEI hit the Transactional Liquidity (TLQ) round $0.19. Nonetheless, the bulls have defended this degree vigorously over the previous few weeks.
