SEI Price- SEI Surges Over 100% Since Mid-June
SEI Price– SEI has seen a remarkable performance over the past two weeks, rallying by over 112% and breaking through the $0.30 mark. This sharp uptrend has been largely driven by an explosive increase in buy volume, last observed at this scale in November 2024. The current momentum suggests strong market interest, with the next key resistance at $0.36 and immediate support at $0.27.
Despite the impressive rally, technical indicators are flashing early warning signs. The Relative Strength Index (RSI) on the daily chart has now crossed above 70, entering overbought territory. Historically, such levels have preceded short-term pullbacks. For instance, a similar RSI reading in early May was followed by a notable correction. While momentum remains strong, traders may consider this a signal to stay cautious rather than chase price highs.
Buy Volume Breakout: Is the Rally Sustainable?
The surge in buy-side activity is a key factor behind SEI’s rapid climb. This heightened demand has led to a new higher high, often seen as a bullish continuation signal. However, for the rally to maintain its strength, SEI must close convincingly above the $0.36 resistance level in the coming days.
If current momentum persists and resistance breaks, SEI could aim for new local highs. However, without sustained volume or a breakout confirmation, the risk of a cooldown remains. Investors are watching closely to see whether SEI can extend this bullish leg or enter a consolidation phase.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
