Is It Too Late to Buy Sei? SEI Price Surges 20% as Exclusive Telegram Crypto Casino Approaches Launch
Sei Network (SEI), an open-source layer-1 blockchain, has undertaken a +20% SEI price surge – leaving some FOMO traders asking ‘is it too late to by Sei?’.
Markets appear to have flipped bullish on Sei Network’s promise of empowering developers with hyper-fast throughput set to parallelize EVM.
$SEI = parallelisation of EVM
It's basically the Ethereum maxis last chance of making EVM chains work.
It's their catch up play for missing $SOL
When $MONAD goes live at a high FDV, $SEI will get a second big wind too.
And no unlocks til mid 2024
— pickle (@Pickle_cRypto) December 19, 2023
As SEI price holds strong, Sei Network is currently trading at a market price of $0.34 (representing a 24-hour change of 15.76%).
This comes after SEI hammered up over the past 48-hours, from baseline support around $0.215, to hit a new all-time high at $0.36.
Now in minor localized retracement (-5%) as price action reels from the major pump, SEI appears poised in the upside of the current trading channel.
Furthermore, in a sign of technical strengthening, the 20DMA now provides a supportive foothold at $0.265 – offering additional relief to any downside.
However, warning signs emerge from the RSI, which overheated to major bearish divergence at 70 on the recent price move, suggesting retracement and consolidation could be needed.
Yet, the MACD on the other hand, remains bullish with minor divergence at 0.0010.
Overall, this leaves SEI in good posture, although vulnerable to further localized retracement movements.
To the upside, SEI is targeting a foothold at the ATH around $0.36 (a potential +5%).
While risking retracement, SEI could drop to 20DMA support around $0.26 (a possible -24%).
This leaves SEI Network with a current risk: reward ratio offering of
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