CandleFocus

Sei spikes 25%, breaks key resistance as bulls eye $0.50

Author: Content Editor
The native token of blockchain platform Sei, SEI, has experienced a surge in price, increasing by over 25% in the past 24 hours. It reached its highest level since June 12 and now has a market capitalization of $1.6 billion, making it the 59th largest digital asset globally. This price surge is accompanied by a significant rise in trading volume and open interest, indicating heightened investor activity. Technical analysis suggests further upside potential, with resistance at the $0.50 mark. However, an overbought Relative Strength Index suggests the possibility of a correction or consolidation in the near term. Liquidation thresholds for SEI are around $0.454 on the downside and $0.475 on the upside, with significant leverage among intraday traders at these levels. Bulls currently seem to be in control.

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