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- Welcome Kevin_Lee to the Gate Square! 🎉
Looking forward to more great crypto insights from him.
Check out and engage with Kevin_Lee’s latest post!
👉 Post: https://www.gate.com/post/status/11758920
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Why is the SEI Price Up Today
SEI buy volume exploded and the price quickly followed.
Key Support levels: $0.27
Key Resistance levels: $0.36
1. SEI Rallies by Over 100% in Two Weeks!
Since mid-June, SEI experienced increasing buy volume that saw the price move higher and higher without any hesitation. At the time of this post, the SEI price is up by 112% compared to two weeks ago. This rally is impressive and managed to get this cryptocurrency to 30 cents. The current resistance is at $0. 36 and the support at $0.27.
Chart by TradingView## 2. Bullish Momentum Takes Price into Overbought Territory
The daily RSI is above 70 points which places it into overbought territory. This means that buyers could become exhausted and a pullback is likely. The last time the RSI was this high was in early May and a correction followed. Best to avoid FOMO at this time.
Chart by TradingView## 3. Buy Volume Exploded
The last time the SEI buy volume was this high it was November 2024. The price also made a higher high which signals that this rally may continue for quite some time regardless of any pullbacks. To confirm this, the resistance at 36 cents has to break.
Chart by TradingView