A small implicit a year since its debut, the SEI token has experienced singular growth, looking to interruption into the apical 50 largest cryptocurrencies by marketplace capitalization. The altcoin has been 1 of the champion performers successful the past fewer days portion posting a double-digit summation successful the past 24 hours.
Crypto Analyst Says Token Is Heading To $0.65 — Here’s How
In a caller station connected the X platform, salient crypto expert Ali Martinez put forward an absorbing projection for the terms of SEI successful the abbreviated term. According to the pundit, the cryptocurrency seems acceptable to proceed its upward momentum and movement.
This bullish forecast revolves astir the enactment of the bull emblem signifier connected the SEI terms illustration connected the four-hour timeframe. The bull emblem enactment often serves arsenic a beardown continuation signifier for upward terms trends.
The method investigation enactment is characterized by a play of astir vertical upward terms question (the flagpole) followed by a flimsy consolidation play (the emblem itself). While the bull emblem signifier signals the imaginable for terms to inclination higher, it is indispensable to hold for a palmy interruption retired of the consolidation for confirmation.
As observed successful the illustration above, the terms of SEI appears to person breached retired of the consolidation zone, with a four-hour candlestick closing supra the precocious boundary. According to Martinez, this caller terms enactment puts the adjacent halt for the token astatine $0.65, representing astir a 20% rally from the existent price.
As of this writing, the SEI token is valued astatine astir $0.53, reflecting an astir 16% ascent successful the past day. The altcoin, which was mostly quiescent each week long, is present up by astir 18% successful the past 7 days, according to CoinGecko data.
Is SEI Following SUI?
Earlier successful the past week, Martinez predicted that the terms of SEI was soon going to travel the way of the red-hot SUI. Perhaps owed to their akin names, these 2 crypto tokens person an astir identical terms trajectory.
$SEI volition travel $SUI… $1.60 next! pic.twitter.com/UA2a9hUSs1
— Ali (@ali_charts) November 11, 2024
It is worthy mentioning that SUI, which is up by much than 50% successful the past week, has been awesome agelong earlier affirmative momentum returned to the market. However, Martinez took to the X level to stock that SEI volition travel SUI’s bullish footsteps — with $1.6 successful its sights.
Featured representation created by Dall-E, illustration from TradingView
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