Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

SEI Price Prediction – SEI Eyes $0.49 as Bulls Take Control

bullish:

0

bearish:

0

Share

Highlights:

  • SEI is gaining upside momentum after breaching $0.26 resistance
  • Rally makes $0.49 the first near-term target for SEI
  • A risk-on assessment in the market could send SEI to new highs soon

SEI (SEI) is one of the best-performing cryptocurrencies today, and by a considerable margin. When going to press, SEI was trading at $0.279, up by 38.28% in the day. Trading volumes were also on the rise in the day, up by 251% to stand at $776 million. Such a strong surge in volumes at a time when the price is going up parabolically is an indicator of rising FOMO. This hint suggests that the price of SEI could be headed much higher in the short term. Considering SEI’s fundamentals and the broader market environment, the FOMO buildup around SEI is not without basis. 

SEI Positioning Itself In a $200 Billion Market

Internally, SEI is positioning itself in the $200 billion AI payments market. SEI is looking to leverage its fast transaction speeds and ability to scale to help  AI make payments at machine speeds. This is a $200 billion market that is growing exponentially year-over-year.

As such, by capturing just a percentage of the market, SEI could see an exponential growth in its core value. The same could translate into SEI hitting new highs going into the future. It is one of the factors that, in an all-out bull market, could see SEI rally to prices as high as $10. Such potential may explain why investors are flocking to SEI. It means, despite the recent surge in price, SEI is still undervalued and offers significant room for long-term value appreciation.

Broader Market Sentiment Turns Bullish – Good for SEI

Besides SEI’s strong fundamentals, investor confidence in SEI is also driven by a sudden surge in market sentiment. Market uncertainty surged when the US bombed Iran over the weekend. However, the escalation that was expected to follow has not happened. President Trump yesterday, June 23, took to social media and announced that Iran and Israel had agreed to a permanent ceasefire.

Essentially, the US and Israel had accomplished their mission of ensuring Iran does not go nuclear while avoiding a broader war in the Middle East. This has injected new optimism into the financial markets. For cryptocurrencies, especially altcoins that were already massively undervalued due to months of price correction, the move has seen a flood of liquidity. With SEI among the altcoins that are both undervalued and with strong fundamentals, the surge in liquidity could soon push it to new highs. 

Monetary Tightening Cycle Could End Soon, And That’s Bullish for SEI

Still on macro fundamentals, there is growing confidence that the monetary tightening cycle is ending. After a series of rate hikes, the Federal Reserve has entered a phase where it is holding rates steady. This hints that the markets can expect at least one or two rate cuts this year. Capital could flow into risk assets that tend to benefit most from a surge in market liquidity. One of these asset classes is cryptocurrency. As a part of this market and one that has so far shown incredible potential, SEI could see a surge in momentum that could push its price to new all-time highs in the foreseeable future.

Technical Analysis – SEI In the Early Stages of Long-Term Bull Run

From the weekly charts, investors should be bullish on SEI. After months in the red, SEI entered a multi-month consolidation between March last week. This week, bulls have taken control of SEI and pushed it through multi-week resistance at $0.261. 

SEI Price
Source: TradingView

If SEI ends the week above this resistance level, then a rally to $0.49 could follow in the short term. On the other hand, if there is a correction back below $0.261, then the consolidation could follow. However, with the rising bullish sentiment across the market, a rally to $0.49 is more likely.

eToro Platform

Best Crypto Exchange

  • Over 90 top cryptos to trade
  • Regulated by top-tier entities
  • User-friendly trading app
  • 30+ million users
9.9

5 Stars

eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong.

bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.