SEI continues to demonstrate impressive growth, increasing by over 10% in the past day and reaching $0.1857. Key factors contributing to this movement include technical signals and improvements in fundamental metrics.
Technical Signals and Their Importance
The recent price surge of SEI has caught traders' attention, as it occurred after a breakout from a long-term chart pattern. Analyst Crypto Winkle pointed out that SEI's price just broke out of its second falling wedge on the daily chart, a setup that often indicates a potential upward reversal. The latest breakout happened after testing the $0.117 to $0.127 zone, which had previously served as support multiple times.
SEI's Remaining Resistance Levels
Another analysis showed that SEI's price is consolidating within a descending broadening wedge. The token rebounded from the lower trendline near $0.175, suggesting that support is still in place. However, the 21-day moving average at around $0.188 has been acting as dynamic resistance. The price movement between $0.188 and $0.195 may determine the next breakout zone.
SEI's Fundamental Metrics
Crypto Winkle emphasized that SEI's latest price movements align with core infrastructure developments. The network offers a Parallelized EVM with throughput exceeding 5 gigahertz per second and finality under 400 milliseconds. These features are currently operational, indicating a stable interest from traders towards the network.
SEI demonstrates significant growth due to both technical factors and fundamental metrics. Support at the $0.117–$0.127 range remains crucial for future movements, while the next resistance levels become primary targets for traders.
