SEI Rises 50%: On the Threshold of Critical Resistance, A New Rally May Begin

SEI has gained over 50% this week, reaching its highest level in the last four months. The altcoin, which has gained attention from investors due to the increasing interest in alternative chains, has caught a strong upward momentum with rising trading volume and technical indicators. The current focus is whether the critical resistance at the $0.30 level will be broken.

Trading Volume Exploded, Investor Confidence Rising

The daily transaction count on the SEI network has shown a significant increase in recent months. Particularly, the tripling of the transaction count in the last three months and surpassing 1.6 million on some days clearly indicates a notable increase in user activity and investor confidence on the chain.

This increase supports the interest in SEI's ecosystem, establishing a strong foundation for the price to climb even higher.

From Death Cross to Golden Cross?

The Death Cross formation that has been ongoing since January — meaning the 50-day exponential moving average (EMA) remaining below the 200-day EMA — represented a long-term downtrend in SEI's price. However, due to the impact of the recent rally, the 50-day EMA has entered an upward trend.

If this short-term average crosses above the 200-day EMA, it technically means a Golden Cross formation and is generally a precursor to a long-term uptrend. This potential crossing could be an important trend reversal signal for investors.

Critical Threshold of $0.30 Resistance

At the time of writing, SEI is trading at $0.29 and is very close to the significant resistance point at $0.30. This level is a decisive threshold not only technically but also from the perspective of investor psychology.

If the $0.30 level is surpassed and becomes support, SEI's price has the potential to rise to $0.35. This situation could confirm the continuation of the current rally and indicate the end of the downtrend.

Risk Scenario: Beware of Profit Taking

On the other hand, if short-term profit-taking occurs, a correction movement may happen in SEI. Especially falling below the $0.27 level indicates that the momentum is weakening. In this scenario, there is a risk of the price pulling back to $0.24.

Such a pullback could weaken the current bullish outlook and lead to a short-term change in market sentiment.


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