SEI, a cryptocurrency, has recently drawn attention due to its significant price increase. Since the last post, SEI's price has risen by 112% over two weeks.
SEI Shows Impressive Rise
Since mid-June, there has been an increase in buy volume for SEI, leading to a continuous increase in price. Currently, the price of SEI is at 30 cents, with key support levels at $0.27 and resistance levels at $0.36.
Bullish Momentum and Its Consequences
The daily RSI is above 70, indicating an overbought condition. This suggests that buyers may become exhausted, and a pullback is likely. The last time the RSI was this high was in early May, which led to a correction. This level raises concerns among many traders.
Buy Volume Hits Record High
The last time buy volume for SEI was this high was in November 2024. The price has also reached higher highs, signaling that this rally may continue despite any pullbacks. However, to confirm this, a break at the resistance level of 36 cents is necessary.
The cryptocurrency market continues to be dynamic, with SEI demonstrating significant growth in recent weeks. Monitoring key levels and indicators will be important for traders, who may be anticipating corrections in the near future.
