SEIUSDT Market Sees an Upside Turnaround From Its Recent Dip

Azeez Mustapha

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The SEIUSDT price has increased by 4.88% today. Although not too high, today’s trading activity has placed the market back above its launch price of $0.2600. Sei now trades at the $0.3035 mark, which still falls below some important technical indicators. Let’s see what may occur soon in the market.

Sei Statistics:
Current SEI Value: $0.3035
SEI Market Cap: $926,298,018
Sei Circulating Supply: 3,050,000,000
Sei Total Supply: 10,000,000,000
SEI CoinMarketCap Rank: 69

Key Price Levels:
Resistance: $0.3500, $0.4000, and $0.4500
Support: $0.3000, $0.2500, and $0.2000

SEIUSDT Market Sees an Upside Turnaround From Its Recent Dip Sei Minimal Gains Seem Subdued

Price activity in the SEIUSDT daily market has seen minimal price increases for two straight sessions. Nevertheless, the token still trades below the 78.60 threshold on the Fibonacci Retracement level. Meanwhile, the Stochastic Relative Strength Index (SRSI) lines have already performed a bullish crossover in the oversold region.

The lines of the indicator have proceeded upwards but seem a bit exaggerated considering the magnitude of the price increase. Also, traders stand a chance of seeing the market relinquish its gains as trading activity remains below all the Exponential Moving Average (EMA) curves.

SEIUSDT Market Sees an Upside Turnaround From Its Recent DipSEIUSDT Market Makes Effort to Secure More Traction

Coming to the Sei market’s 4-hour chart, one can see that price action has just risen through a psychological price level. The last price candle on the chart can be seen placing the market above the $0.3000 mark and the 50-day EMA line. This also implies that price action is now in between the 4 EMA lines on this chart.

Additionally, the SRSI indicator lines have delivered a bullish crossover above the 80 mark of the indicator. Technically, it appears that technical indicators are aligned to supply strength to the technical support level of the $0.3000 price mark. This will likely cause the market to extend upside corrections, as more buyers may start using crypto signals targeting the $0.3500 price level.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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