SEI has experienced a notable price increase, attributed to rising interest in alternative chains. Following months of consolidation, transaction volumes have surged, potentially driving further price growth. Daily transactions on the SEI network have tripled recently, peaking at 1.6 million in a single day, indicating strong demand and investor confidence. This uptick reflects growing interest in SEI’s evolving ecosystem. Despite this positive trend, SEI has been in a Death Cross pattern since January, suggesting a prolonged downtrend. However, the recent price rise has slightly improved the 50-day EMA, hinting at a possible trend reversal. If the 50-day EMA surpasses the 200-day EMA, it could signal a Golden Cross and a shift towards an uptrend. Currently trading at $0.29, just below the $0.30 resistance, SEI's ability to maintain this level is crucial for further gains. A breakthrough could lead to a rise towards $0.35, while a drop below $0.27 may indicate weakening momentum. Read more AI-generated news on: https://app.chaingpt.org/news