Key takeaways
- SEI has reclaimed the $0.30 psychological stage, paving the way in which for additional rally.
- The constructive 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 prime 100 during the last 24 hours. The coin added 5% to its worth throughout that interval, permitting it to reclaim the $0.30 mark.
The constructive efficiency comes regardless of Bitcoin, Ether, XRP, and different main cryptocurrencies recording losses. Bitcoin didn’t construct on its earlier momentum and now appears to be like set to drop under $106k quickly.
SEI’s rally comes after the coin added 80% to its worth final week. With the bulls nonetheless in management, the coin may resume its upward rally quickly and set a brand new 6-month excessive.
SEI may 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 seemingly rally greater within the brief time period.
The pair has an RSI of 60, exhibiting that SEI is at present going through shopping for stress from traders. In the meantime, the MACD strains have additionally crossed into constructive territory and browse 0.0108, additionally suggesting that consumers are in management.
With the bullish pattern now resuming, SEI may goal the primary main resistance stage at $0.3516. An prolonged rally would enable SEI to hit the $0.430 stage for the primary time since January 2025. Nonetheless, this rally would seemingly rely upon the broader crypto market and the way Bitcoin’s worth motion performs out.
There’s nonetheless an opportunity that the market may flip bearish. Any bearish worth motion may 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 stage vigorously over the previous few weeks.
