Key Takeaways
- Sei (SEI) price action suggests the asset could see a 26% gain if it asset holds above $0.28 mark.
- Experts have made bold predictions, targeting $0.32, $0.37, and even the $0.50 level for SEI.
- Active addresses on the Sei blockchain have reached an all-time high.
Bullish sentiment around Sei (SEI) is heating up despite the price decline, hinting at a potential preparation for the next leg up. Active addresses on the Sei blockchain are at an all-time high, DEX volumes have surged 724% over the past year, and a recent ETF filing, along with a bullish breakout, is fueling optimism.
SEI Price Forecasts: Bold Expert Insights
Amid the market uncertainty, several bold predictions have surfaced on X, now making waves in the cryptocurrency space.
A well-followed crypto analyst stated, “Buy signal confirmed, SEI now targets $0.32 and $0.37,” while another expert predicted that SEI’s next leg up is targeting the $0.50 level. Moreover, these predictions on X reflect crypto enthusiasts’ growing interest in the SEI token.
Rising Momentum, Dropping Volume
At press time, SEI is trading at $0.285, down by 1.5% over the past 24 hours. With the price dip, the asset’s 24-hour trading volume has dropped by 8% compared to the previous day.
This indicates that the asset’s downside momentum is weak, and historically, such conditions have often led to a price reversal.
SEI Price Outlook: Upside Targets in Focus
According to TradingView chart analysis, SEI has failed to sustain the bullish breakout of the falling wedge pattern formed on the four-hour chart. However, the price still holds a key support level at $0.28, which offers hope for the next leg up.
Using the Smart Money Concept, SEI appears to be at a key order block. The previous fakeout, caused by huge liquidity, has now been cleared. Based on price action, SEI currently holds the 50% Fibonacci level.
If the asset remains above $0.28, there is a strong possibility it could soar by 26%, potentially reaching $0.36 or higher.
Additionally, DeFiLlama data shows that SEI’s Total Value Locked (TVL) has jumped to $580.08 million from $557 million the previous day. This surge in TVL is a positive signal for the asset and hints at growing investor interest in its long-term potential.
