The SEI rate has actually increased quickly because November and reached a brand-new all-time high the other day.
The rally has actually been particularly fast given that December 19, causing 6 bullish everyday candlesticks in 8 days.
SEI Moves Above $0.50
The SEI rate has actually increased given that being up to a low of $0.094 on October 19. The upward motion sped up on November 22, triggering a breakout above the previous all-time high area.
Later, the SEI rate produced another greater short on December 18 and reached a brand-new all-time high of $0.537 the other day. The altcoin has actually fallen a little because the high.
SEI/USD Daily Chart. Source: TradingView
The RSI is a momentum sign traders utilize to examine whether a market is overbought or oversold and whether to build up or offer an asset.Readings above 50 and an upward pattern recommend that bulls still have a benefit, while readings listed below 50 show the opposite.
In spite of the rate reduction, the RSI is still bullish. The sign broke out from its bearish divergence pattern line and moves up.
SEI Price Prediction: When Will Price Reach $1?
Cryptocurrency traders and experts are bullish on the future SEI rate pattern. Both Nebraskangooner and CryptoTony kept in mind the breakout above the previous all-time high and taking place retest to recommend that the upward motion will continue.
SEI/USDT 3-Day Chart. Source: X
They did not offer a target for the taking place boost.
Technical experts utilize the Elliott Wave theory to determine repeating long-lasting cost patterns and financier psychology, which assists them figure out the instructions of a pattern.
The wave count recommends that the SEI rate remains in wave 3 of a five-wave upward motion, which has actually extended. The sub-wave count is given up black.
The altcoin can reach the next target at $0.58 if the boost continues. This is 25% above the existing cost. Later, a close above it can cause a boost of 75% to the next resistance at $0.81, offering wave 3 2.61 times the length of wave one.
SEI/USDT Daily Chart. Source: TradingView
Regardless of this bullish cost forecast, a strong rejection at the $0.58 location will indicate the top remains in. The SEI cost can fall by 20% to the $0.37 assistance location because case.
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