SEI’s recent surge has sparked optimism as rising volume and TVL indicate strong market interest.
- SEI has surged by 24.71%, with bullish momentum visible as traders eye key resistance levels. Volume has spiked 343%, while a growing TVL and a balanced long-short ratio support further gains.
Sei [SEI] has experienced a significant surge, capturing the attention of both traders and investors across the crypto market. Its price action has ignited discussions about the potential for further gains.
With SEI gaining traction in the crypto space, the key question remains: Can SEI sustain this explosive momentum?
Breaking down SEI’s latest price action
At press time, SEI was trading at $0.461, a notable 24.71% increase in just one day. This sharp rise brings SEI close to the upper Bollinger Band, which often signals overbought conditions.
Nevertheless, the relative strength index (RSI) sits at 68.11, indicating room for further growth before hitting overextension.
Consequently, many traders are now focused on whether SEI can break through its current resistance or if a short-term pullback will occur.
Therefore, the next few trading sessions could be crucial for SEI’s price action.
Source: TradingView
SEI’s volume surge and its impact
In addition to the price increase, SEI’s volume has skyrocketed by 343% in 24 hours at press time, reaching $958.68 million.
This massive surge in volume highlights growing market interest, likely driven by institutional activity and retail traders looking to capitalize on the momentum.
Furthermore, higher volume generally brings more liquidity, allowing for smoother price movements without significant slippage.
Consequently, this surge in volume may propel SEI to test higher resistance levels in the short term. However, if the volume begins to fade, price action could stall or reverse.
Source: Coinglass
TVL: A sign of growing confidence
SEI’s decentralized finance (DeFi) ecosystem is another factor fueling its rise. SEI’s TVL has grown to $559.43 million, according to DeFiLlama.
This increase shows that more users are locking their funds into SEI’s protocols, which indicates rising confidence in its ecosystem.
Additionally, as TVL increases, SEI’s network gains more liquidity, providing a foundation for continued growth. Therefore, the expanding TVL plays a pivotal role in supporting SEI’s bullish trajectory.
Source: DefiLlama
SEI’s long and short Ratio
At press time, 51.38% of traders held long positions, while 48.62% were shorting the token. This near-balance reflected caution among traders, but the slight tilt toward long positions suggests a bullish bias.
Consequently, the long-to-short ratio of 1.0568 implied optimism, but a sudden shift in sentiment could trigger volatility.
Source: Coinglass
Realistic or not, here’s SEI’s market cap in BTC’s terms
Given SEI’s strong fundamentals, rising volume, and expanding TVL, the momentum will likely persist. SEI has an 80% chance of maintaining its upward trajectory in the near term.
However, traders should remain cautious of resistance levels and potential volatility, as short-term corrections remain possible.
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