SEI Network Shatters Records: Will $0.50 Breakout Race to $0.81?

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As a seasoned researcher with over a decade of experience in the crypto market, I must say that the recent performance of SEI is quite intriguing. Having closely followed the altcoin landscape, I can confidently assert that SEI’s 5.31% price jump and its approach to a crucial psychological mark is noteworthy.

In the past 24 hours, SEI ($0.48) has emerged as one of the leading crypto performers. Boasting a 5.31% price increase, it’s now approaching a significant milestone with a market cap of $1.88 billion.

The rising number of transactions and active users on the SEI blockchain suggests a possible exponential growth trend by 2025, hinting at a potential parabolic rise. SEI is a blockchain network that’s renowned for delivering fast, efficient, and scalable decentralized applications (dApps).

SEI Network Growth as Crypto Market Slowdown

With a growing likelihood of a bullish market trend in 2025, the SEI network has experienced a notable spike in its primary statistics. In the past 24 hours alone, there’s been a 10% rise in transaction volume, and the number of active addresses on the network has swelled by 29%.

Reaching over 450,000, the current number of active addresses stands at approximately 489,250. In the last 24 hours, transactions have totaled around 855,190.

As the network continues to expand, the combined value locked within the SEI network now stands at approximately $577 million. Although this figure is slightly lower than its maximum historical value of $751.67 million, a recent surge in short-term recovery has triggered a 24-hour trading volume of $26.43 million.

In the face of growing user activity and transactions, the Special Network (SEI) has seen a record-breaking number of unique active wallets (UAW) hit 441,850. This surge in significant network statistics suggests that SEI is gaining ground amid the crypto market’s temporary bearish trend.

Spin City, Dragon Slayer, and Archer Hunter lead SEI network’s dApp rankings this month.

SEI Price Analysis Signals New Bullish Cycle

Approaching a market value of $2 billion, it finds itself ranked 63rd among cryptocurrencies. On the daily price graph, Sei exhibits an uptrend with successive high points and low points rising gradually.

On the other hand, the upward trajectory of SEI’s pricing forms an expanding, diagonal pattern known as an ascending, broadening wedge. At present, SEI is approaching its support trendline, hinting at an imminent bullish phase.

A rising, widening shape on a chart, known as an ascending broadening wedge, features lines that slope upwards but gradually widen apart as time progresses. This suggests growing market instability or heightened volatility. Generally, this pattern is considered bearish because the price movement may lose momentum and could potentially fall below the lower trendline support.

Last night saw a 9% surge in SEI’s price, forming a ‘morning star’ pattern and positioning itself to challenge its 200-day Exponential Moving Average (EMA) line. At present, it is trading beneath this line, hinting at an imminent breakout that could potentially trigger a rally.

SEI Price Targets

If the SEI breaks through its resistance level, we could see a significant increase in its price by approximately 82%, with this resistance point being close to $0.8157. This breakthrough would make it more likely for SEI to reach the $1.00 milestone, a psychologically significant price level.

On the other hand, the trend continues to lean bearish, but an overnight price spike might lead to a potential crossing point where the MACD line intersects above the signal line positively.

Based on past price surges, the crossing above the 200-day moving average may potentially confront the $0.55 resistance point. Conversely, a fall below the upward trend line might provoke a retest of the previous low at $0.33.

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2024-12-24 19:32