SEI Defies Crypto Market Chaos: Can It Break the $0.33 Barrier?
- SEI has shown steady performance, rising even amid market volatility, with a 4% increase in the past week.
- Despite market pressure, SEI has been on an uptrend, attracting traders seeking stable growth.
- SEI faces critical resistance near $0.33, but overcoming it could signal further bullish potential.
SEI has demonstrated healthy performance in the crypto market even during different cycles of low volatility. In the past few weeks, the cryptocurrency has been on an uptrend that set it apart from most of its counterparts. Daan Crypto Trades expressed his sentiment on the upside movement on SEI in a post on X. Amid such conditions of a general market turbulence, token has been demonstrating its continued drive.
SEI Outperforms in Unstable Market
Daan observed that token has been able to increase while many other assets have been under pressure. This is even more so since the market has been characterized by this volatility in the recent past. On the other hand, SEI seemed to maintain an upward trend, unlike the other cryptocurrencies that took a long time to regain their positions. This has drawn the interests of the traders and investors who are always on the lookout for good prospects amidst volatile business climate.
At the moment, token resides at the region of a high volume in a price chart with the slope indicating a critical resistance level. The price got resistance at this area, so getting past it would open new area of possibilities. However, if token has managed to overcome this resistance, the way is paved for the next major level at close to $0.33.
SEIs Price Trend and Outlook
At the time of writing, token is trading at $0.2671 and has increased by 4% from the previous week.They nonetheless show a positive technical price trend in the near term. Currently, it has 4.65 billion tokens in circulation and has a market capitalization of roughly $1.24 billion.
Source: TradingView
In the technical analysis, the $0.33 is an important resistance where the cryptocurrency is currently locked in. This, in turns, can also be seen as a victory for cryptocurrency given that the price has increased in an environment that was characterized by fluctuations in the prices of other assets. If coin manages to move above this level, then it will be signaled that the near-term bullish trend for the stock is more probable.
Read more: https://www.tronweekly.com/sei-defies-crypto-market-chaos-can-it-break/
Text source: TronWeekly
