Sei (SEI) rose more than 20 percent ahead of critical US inflation data.
Recently, it has been seen that new projects have come to the fore in the crypto market. Memecoin (MEME) and Celestia (TIA), launched this year, were on the agenda with their sensational rises. TIA, in particular, has witnessed a nearly two-fold increase in a very short period of time.
In the crypto market, where decline expectations intensify day by day, it is noteworthy that a few altcoins are experiencing rises that diverge from the market. Another cryptocurrency that left its mark on the day was SEI. SEI, one of the new coins, rose more than 20 percent before the critical US inflation data.
Sei (SEI) rise is at a critical threshold!
Sei (SEI), which has remained calm in recent weeks but started to rise before the critical US inflation data, caused anxiety. The possibility of inflation data reversing the positive market could undermine the SEI rally.
Sei, which claims to be faster than its competitors such as Solana and Ether, continues its blockchain developments. While the project focuses on ecosystem development, price mobility on the SEI side is a matter of curiosity. SEI, which could not achieve the long-awaited exit, managed to break an important resistance point with the rise it experienced in the early hours of the day.
SEI, which opened for trading in August, formed the bottom price zone in October. SEI, which accompanied BTC on the rise with the spot ETF news flow, but could not separate from the market, finally made a significant breakthrough. SEI managed to break the $0.13 resistance and gained more than 20 percent.
Although SEI has achieved a significant rise by breaking resistance, there is a bigger obstacle in front of it. US inflation data will be announced on November 14 at 16:30. It is said that consumer inflation may be high and the market will be negatively affected by this. This could undermine the rise of SEI. However, SEI has the potential to make a TIA-like rise as a result of the positive structure it has created.
Looking at the SEI chart, the $0.1704 resistance appears to be of critical importance. If this resistance point is exceeded, SEI may touch $0.1842 in a short time. The $0.1842 area may be an area where sellers will concentrate. If this region is crossed, SEI price could test $0.2151. This situation, which means a 35 percent increase potential compared to the current price, could ignite the bull run for SEI. If the bull run intensifies, SEI will look to break the major resistance point at $0.25. Breaking this resistance may bring the price to $0.28.
On the other hand, SEI may decline as US inflation data comes back negative and the market loses its positivity. This decline could push SEI price towards the $0.1491 support. If there is no purchase from this support point, SEI may retreat to $0.13 in a short time. $0.13 is known as the starting point for SEI. If this point is lost, $0.1181 will come to the fore for SEI. Other support levels could be $0.1089 to $0.0950.
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