Wisp
Doge Pepe
Crawlerpad
Zylo Ecosystem
Pearl
Basic Attention
Quantus
Key Insights:
- SEI adoption boom with a 62% increase in active users and $580M TVL growth daily
- Analyst Michael van de Poppe targets $0.65 as SEI price holds key technical levels.
- CryptoJobs sees SEI price breaking $0.47, with positive momentum and support.
SEI price held strong above a key moving average, giving analysts confidence in further gains. At the time of writing, SEI traded at $0.309 after rising more than 7% over the past week.
SEI Price Holds Above 20-Week Moving Average
Analyst Michael van de Poppe pointed out that SEI price traded above the 20-week moving average (MA), previously serving as key support. Van de Poppe suggested that as long as the altcoin remains above this MA, SEI crypto could continue its upward trend.
The altcoin price was resilient above critical support at the time of writing.
Interestingly, Van de Poppe estimated a target of $0.65 if the existing momentum continues. This level is a major resistance displayed by technical indicators. Analysts are monitoring the action around the 20-week MA, as this support could signal a continuation of SEI’s bullish trend.
Short-term pullbacks are still possible, but must not fall lower than the MA. Overall, the setup from a technical perspective favors upward movement.
Momentum Drives SEI Towards $0.37
Furthermore, another analyst, DeFi Priest, has noted strong adoption as a driver of SEI price. Daily active users grew 62% in three months, increasing network interest. The Total Value Locked (TVL) went from $5 million just in early 2024 to $580 million today. Monthly trading volume reached $1.3 billion in August, indicating growing market activity.
DeFi Priest projected that SEI price could reach $0.37 level. Growing adoption and trading volume reinforced the bullish signals. Analysts recognized that rising market liquidity also helps improve upward potential. Therefore, SEI network growth aligns with strong confidence in the marketplace.
Meanwhile, technical indicators supported the potential for further gains. The Relative Strength Index (RSI) is at 55.56, higher than the neutral 50-level. This indicates that momentum in buying is strengthening and that the token may be in an upward trend.
Likewise, the MACD indicator did not contradict the perception, as the MACD line also crossed above the signal line, a bullish crossover.
This signals that buying momentum is gaining traction, and the coin is potentially improving towards the $0.37 prediction. Concurrently, the histogram was also back in positive territory with increasing bars confirming the bulls are still in control.
SEI Price Targeting $0.47 as Breakout Continues
Additionally, analyst CryptoJobs also gave a detailed chart analysis of SEI price. He identified a pattern of consolidation developing that often precedes a breakout. The top crypto maintained solid support around $0.2477. If the resistance breaks, SEI price could hit $0.47.
A rising triangle pattern indicated bullish momentum, with long-held support improving breakout odds. If the SEI price breaks above resistance, it could test $0.47 in the short term.
Traders monitored price action near triangle boundaries, as a confirmed breakout could trigger further upward movement.
In the past week, the altcoin gained over 7%, reaching a high of $0.32. It later pulled back to $0.309, giving the token a market cap of $1.85 billion.
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.
