According to an analyst from the More Crypto Online YouTube channel, the price of SEI has the potential to rise further, considering the notable 84.6% price surge observed in the past week.
The analyst presents two primary scenarios for the community to monitor: an extremely bullish outlook featuring five waves, indicating potential upward momentum after a significant pullback that could serve as a new entry point for investors, and a slightly more bearish prediction characterized by the ABC structure.
The analyst suggests keeping an eye on the next key levels at $0.97, $1.16, and $1.55. If SEI manages to maintain the January 2 lows, the analyst anticipates a potential climb in what appears to be a setup for wave five. The analyst concludes by noting that SEI demonstrated considerable strength in the recent trading period.
According to information gathered by CoinGecko, a comprehensive aggregator of cryptocurrency data covering more than 11,000 diverse digital assets, Sei (SEI) has observed a rise in its price, currently standing at $0.822584. This comes alongside a 3% upswing in the last 24 hours and a remarkable 84.6% surge in the preceding 7 days.
Sei boasts a circulating supply of 2.3 billion SEI, contributing to a market capitalization of $1.8 billion. Additionally, the 24-hour trading volume surpasses $1 billion.
At the same time, there is a sense of excitement among the SEI community after Jay Jog, co-founder of Sei, announced on January 1. The announcement emphasized the successful completion of Sei V2, achieved through a partnership with respected blockchain security experts Zellic and OtterSec. Through thorough code auditing, the platform ensured a strong foundation for its upcoming deployment. It is worth noting that the introduction of optimistic parallelization, an innovative feature, is set to revolutionize transaction processing.
