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- 1 The trading volume for the last 24 hours on all trading platforms is 552.54 Million.
- 2 MACD is above the zero line and shows a broad histogram bullish crossover.
The SEI price action shows past price action as it advanced from $0.1500 to $0.8900 by November 2023. It has demonstrated exemplary performance in the past week, month, and three months by 39.75%, 34.32%, and 478.88% respectively, indicating a reliable upward trend.
The price struggled in the supply area for some days and later ended up in a declining wedge.
However, the SEI crypto could not break important support and show a sign of revival as the price bounced back from a critical support level of around $0.5850 on the chart.
At the time of publishing, the SEI crypto is experiencing a mere decline of 0.50% in the last 24 hours, trading at $0.9575, and has been showing a breakout from the falling wedge, and the supply has been breached where the price is trying to sustain. Once sustained above the supply zone, the price could boost another rally. Moreover, the trading volume for the last 24 hours on all trading platforms is 552.54 Million.
Will Bullishness Continue In The SEI Crypto Price?
The SEI crypto looks poised for a spectacular rally above the supply zone as it prepares by showing sustenance gestures to smash the resistance level and soar to new heights from the current level.
The trend revealing tools for the SEI asset shows bullish potential as its price bounced from dynamic support and stayed above significant 20-day and 50-day EMAs.
Moreover, the SEI asset is in a strong uptrend as MACD is above the zero line and shows a broad histogram bullish crossover. The MACD line is at 0.0796, the signal line is at 0.0506, and the histogram is at 0.0290. The RSI indicator shows signs of some consolidation to relax the RSI curve from overbought conditions to an average value to keep above the median line.
Therefore, if the demand advances above the supply zone, the asset price could continue rising exponentially from the current level. The next goal for the price is to reach $1.50, and in-between resistance would be $1.20.
Another possibility is that if the SEI crypto price fails to stay above the $0.8900 supply level, it could slump below, and a bullish pattern could fail.
Summary
The SEI crypto has been following a bullish falling wedge pattern, showing more price optimism in future sessions. Furthermore, the technical indicators highlight the positive overview over the chart, as MACD shows a bullish cross, and the EMA highlights a bullish trend.
Technical Levels
Support Levels: $0.8900
Resistance Levels: $1.20
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
