- SEI price rebounds from $0.271 after a TD Sequential “9” buy signal.
- 24h trading volume drops 10.54% to $223.46 million.
- Open interest rises 0.09%, now totaling $232.78 million.
SEI has triggered one of the crucial purchase indicators on the 12-hour chart that has drawn the eyes of market participants. The price had reversed off a key support area leading to initial bullishness. Since the token trades are approaching the major resistance area, traders are paying close attention to a potential breakout to the level of $0.37 during the next sessions.
SEI PriceTechnical Rebound and Market Activity
SEI price chart indicates that there is a possibility of a change in momentum. The price went down to approximately $0.271 but is currently rebounding and it currently stands at about $0.293. At the bottom, a TD Sequential 9 buy setup was visible, followed by a green 3 candle, usually a confirmation that the trend has reversed in the short term.
The second significant resistance is found in the range of $0.30 to $0.317 and the price has experienced difficulty penetrating it previously. SEI will be projected to identify a potential shift to $0.36 to $0.37, in case SEI closes higher than this range. There is also a structural high that coincides with this level.
There are mixed signals in the market activity. Volume has decreased by 10.54% over the past 24 hours, to $223.46 million, but the open interest has been marginally higher, at $232.78 million. This is an indication that traders are continuing to open new positions even when the volume is decreasing.
SEI has a market capitalization of $1.7 billion and fully diluted valuation worth $2.84 billion. It has a circulation supply that is 6 billion SEI and a total supply of $10 billion. The eyes are on the breakout level of the price at $0.30, as the price gets near the resistance. Another decline might be back to the $0.271 support zone in case of rejection.
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