- After some consolidation and a tendency of holding, SEI seems geared up for a follow-up rise.
- If the price moves into the range between $0.679 and $0.687, a total of over $5 Million in SEI risk liquidation could occur.
- With more than 278K active addresses, SEI has reached a network level never seen before.
Since August, the Sei (SEI) price has been in a bullish trend. The token has received continuous buying pressure and has surged by 220%.
Amid this bullish rally, the SEI crypto has reached the crucial level of $0.700. However, it has halted in this territory for a week, and further rallies would depend on market behavior. The SEI price has been rising in higher highs and higher lows patterns in a daily time frame.
Per the price action, the price has stretched significantly, and a slight pullback is anticipated. The price has displayed a parabolic recovery and the potential to gain momentum.
Chaikin Money Flow (CMF) predicts that SEI tokens valued at $5 million could be liquidated soon at the $0.68 level. Increasing CMF usually indicates the liquidation.
Could the SEI Crypto Hit the $1 Mark Amid this Bull Run?
When writing, the SEI crypto traded at $0.677, which has remained neutral over the past 24 hours. The market capitalization was $2.71 Billion, and the market capitalization was $434.27 Million.
During this bullish move, the price has advanced to a crucial level of $0.700. The SEI coin price has been in an accumulation phase for the past few days. Breakout or breakdown from this zone could be effective, and sharp momentum can be anticipated.
Suppose the price manages to hold this territory and forms any bullish marubozu candlestick; buying can be seen. Excluding this zone could attract buyers, and the SEI price may experience buying pressure. This scenario could tempt buyers for the $1 mark target.
Alternatively, a selling opportunity can be anticipated if the price fails to hold this zone. A selling opportunity can be anticipated once the price starts trading below the 20-day EMA. Here, profit booking can be observed, which may result in a bearish momentum.
According to the technical indicators, the MACD and the Signal line stayed in the positive territory. The histograms have remained green for weeks, indicating bulls’ grip.
SEI Crypto Liquidation Risk & Its Outcome
The SEI crypto liquidation heatmap showed a crucial point. The traders were paying close attention to price levels, particularly in the $0.679–$0.687 range.
The chart indicated a significant accumulation of liquidation risks at these levels, totaling more than $5 Million. If the SEI price rises to or falls below these levels, this zone serves as a possible catalyst for significant liquidations.
Additionally, below the $0.66 mark, the heatmap showed periods of lower activity. This indicated that downward moves might stabilize without causing significant liquidations. A break above $0.687 can cause quick price swings driven by the liquidation of leveraged bets.
SEI Crypto Experiencing Bullish Momentum & Key Resistance Levels
The SEI crypto has experienced a significant rise. That showed strong bullish momentum, as indicated by the Chaikin Money Flow and its rising price patterns.
However, investors should remain cautious, with over $5M at risk of liquidation if the price dips between $0.679 and $0.687. The SEI coin price has targeted the crucial resistance level of $0.700, where it has been consolidating.
A breakout above this level could pave the way for a push towards the $1 mark, attracting more buyers. Conversely, if it fails to maintain this level and falls below the 20-day EMA, we could see a shift toward a bearish trend.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
