SEI coin is the native digital currency of Sei Network, which is a Layer 1 blockchain specifically designed to provide high performance in trading digital assets and decentralized financial (DeFi) applications.
✅ What is Sei Network
Sei Network is a blockchain network built on Cosmos SDK.
It is characterized as the first blockchain specially optimized for trading operations, known as "Layer 1 for Trading."
It uses a consensus algorithm known as Twin-Turbo Consensus to make transactions faster and more efficient.
Sei focuses on high speed (execution time of less than a second), low fees, and providing an enhanced trading experience on blockchain chains.
📊 Resistance areas:
0.2242: Highest peak in 24 hours – represents a strong current resistance.
0.2259: Secondary resistance appeared in the last candle.
🛡️ Support areas:
0.2186: Nearby support (the price recently bounced from it).
0.2113: Clear support formed in previous movement.
0.2041: Stronger support, at the intersection of moving averages MA99 and MA25.
0.1912: Previous low – very strong support but far from the current price.
📈 Technical indicators:
RSI = 64.6: Close to the overbought area, but has not entered it yet.
The current trend is upward, as the price is above the moving averages MA(7), MA(25), and MA(99) which are arranged in an ascending manner (indicating positive momentum).
Trading volume is high, supporting the upward movement.
⬅️ Is this a good time to buy?
✅ Buying is possible but with caution, taking the following considerations into account:
It is better to wait for a slight correction towards one of the supports (like 0.2186 or 0.2113) to enter at a better price.
Use an appropriate stop loss below 0.2113 or 0.2041 to reduce risk.
If resistance 0.2242 is broken and held above it, we may see a continuation of the rise.
