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The Sei crypto price surged more than 10% in the last 24 hours to trade at $0.5055 at press time.
Sei Crypto Price Overview
The recent performance of the Sei crypto price has shown some interesting fluctuations on the 4-hour chart, making it a noteworthy case for traders monitoring the altcoin. Over the last few sessions, SEI has seen its closing prices move from $0.4558 to a high of $0.492. It the retraced to $0.4572. This indicates a tentative recovery attempt after a significant spike.
From a technical standpoint, the 9 Exponential Moving Average (EMA) trends below the 20 EMA for most of the period. This suggests a bearish sentiment in the short term. However, the 9 EMA has started to curve upwards, hinting at a potential shift in momentum. The 20 EMA, on the other hand, has shown a slight decrease, reinforcing the importance of watching these levels for future price actions.
The Moving Average Convergence Divergence (MACD) values have generally been negative, indicating a bearish momentum. However, the latest histogram value turning positive is a sign that the bearish momentum might be weakening. This could be an early indicator of a possible trend reversal or a slowdown in downward movement.
The Relative Strength Index (RSI) has notably recovered from a low of 20.94. This suggests extreme oversold conditions, to a more moderate 53.97. This recovery in the RSI reflects an increase in buying pressure, potentially signaling the start of a bullish phase if the trend continues.
Key Levels to Watch
Looking at potential movements, traders should keep an eye on the resistance levels at $0.5127, $0.5156, and $0.5389. A sustained move above these levels could confirm a bullish trend. Conversely, support levels at $0.4842, $0.475, and $0.464 will be crucial to determine whether the Sei crypto price can hold its ground during pullbacks or if a further decline is imminent.
For potential entry and exit points, traders might consider entering long positions if the price solidly breaks above the 9 EMA and tests resistance at $0.5127. They can then aim to capitalize on a move towards higher resistance levels. On the flip side, setting up short positions could be considered if the price fails to sustain above key support levels, particularly around $0.464, indicating a continuation of the bearish trend.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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