Last upgraded: January 18, 2024 10:48 EST|4 minutes checked out
SEI’s rate appears to be having a hard time as buzz develops for brand-new meme coin Meme Kombat’s crypto presale and launch. Image by Kerem Goktug Kaya, DALL-E 3.
SEI has actually just recently drawn in substantial attention after some outstanding rate motions. Currently ranked # 45 by market cap on CoinMarketCap, SEI’s cost has actually revealed a 122.12% boost in the last 30 days.
Over the last 3 months, SEI has actually intensified from a lowest level of $0.095 to an existing rate of $0.7683, corresponding to a 669.45% increase in simply 90 days.
In spite of its meteoric increase, SEI has actually experienced an obstacle just recently. On Wednesday, it retested its January 3 all-time high of $0.87 however stopped working to break through, causing a decrease to its present rate of $0.7683, marking a 4% reduction at the time of composing. This cost variation has actually raised concerns about the sustainability of SEI’s development and the capacity for future corrections.
SEI Price Technical Analysis: Moving Averages, MACD, and RSISource: TradingView, SEIUSDT
The 20-day Exponential Moving Average (EMA) for SEI stands at $0.6876, showing a bullish pattern as it is well above the 50-day EMA at $0.5258 and the 100-day EMA at $0.3874. Typically, this positioning in moving averages is viewed as a favorable indication for ongoing upward momentum.
The Moving Average Convergence Divergence (MACD) provides a nuanced photo. Presently, the MACD is at 0.0900, a little below the other day’s 0.0909. This minor decline may recommend a weakening in the bullish momentum, although it’s not strong enough to signify a clear pattern turnaround.
The Relative Strength Index (RSI) provides a more complicated circumstance. Today’s RSI is 71.93, below 74.17 the other day. This high RSI, hovering above the overbought limit of 70, recommends that SEI might have just recently reached a momentary peak, with capacity for a retracement as some financiers may think about taking revenues.
Chart Patterns and Price Predictions
The SEI rate just recently tried to breach its all-time high at $0.8779 however stopped working, resulting in its present worth of $0.76.
The double-top development emerging on SEI’s everyday chart is an important pattern to see. This development, if validated, might indicate a bearish turnaround, especially if the rate falls listed below crucial assistance levels at the golden Fibonacci (FIB) levels of $0.6513 and $0.6301. Breaking listed below these levels might speed up selling pressure, causing additional decreases.
On the other side, if SEI breaks above its all-time high resistance at $0.8779, this would revoke the double-top pattern and might clear the method for bullish momentum. In this circumstance, the next FIB targets to enjoy would be $1.29 and $1.95.
Assistance levels are presently recognized at $0.74 and $0.68, with the golden FIB levels supplying extra safeguard. A correction down to $0.552, or even lower levels like $0.4740 or $0.3774, is not off the table,
