Key takeaways
SEI has reclaimed the $0.30 psychological degree, paving the way in which 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 finest performers within the high 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 optimistic efficiency comes regardless of Bitcoin, Ether, XRP, and different main cryptocurrencies recording losses. Bitcoin did not construct on its earlier momentum and now seems to be 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 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 doubtless rally greater within the brief time period.
The pair has an RSI of 60, exhibiting that SEI is at the moment dealing with shopping for stress from traders. In the meantime, the MACD traces have additionally crossed into optimistic territory and skim 0.0108, additionally suggesting that consumers are in management.
With the bullish pattern now resuming, SEI may goal the primary main resistance degree at $0.3516. An prolonged rally would enable 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 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 degree vigorously over the previous few weeks.
