SEI Hovers Around $0.28, 50SMA Holds Key to Next Move
SEI, the native token of the Sei Network, has been trading cautiously around $0.28, with both buyers and sellers exercising restraint. The 50-day simple moving average (SMA) on the 3-day chart is a critical level for SEI's price action.
SEI currently ranks #87 among cryptocurrencies, indicating steady investor interest despite recent consolidation. Its market capitalization stands at $1.70 billion, with a 24-hour trading volume of about $102 million.
Analyst Ali emphasizes the significance of the 50SMA for SEI's historical performance. Previously, SEI surged 120% from this level. A break below $0.26 could extend losses, while a push above $0.30 could target higher levels. SEI is currently consolidating around the 50SMA, potentially setting the stage for a breakout.
Technical indicators suggest a phase of equilibrium for SEI. The Chaikin Money Flow (CMF) is marginally negative, showing a mild outflow of capital but no strong directional conviction. Past rebounds from this level have sparked major rallies for SEI.
SEI's price action is closely watched around the 50-day SMA. A break above or below this level could signal significant moves. Despite recent consolidation, SEI's ranking and market capitalization reflect steady investor participation. Technical indicators suggest a potential breakout brewing, with past performance indicating substantial rallies from this level.
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