Is Sei Going to Zero? SEI Price Drops 4% as New Meme Coin Prepares to List on Exchanges
SEI has recently attracted considerable attention after some impressive price movements. Currently ranked #45 by market cap on CoinMarketCap, SEI’s price has shown a 122.12% increase in the last 30 days.
Over the last three months, SEI has escalated from an all-time low of $0.095 to a current price of $0.7683, equating to a 669.45% rise in just 90 days.
Despite its meteoric rise, SEI has experienced a setback recently. On Wednesday, it retested its January 3 all-time high of $0.87 but failed to break through, leading to a decline to its current price of $0.7683, marking a 4% decrease at the time of writing. This price fluctuation has raised questions about the sustainability of SEI’s growth and the potential for future corrections.
The 20-day Exponential Moving Average (EMA) for SEI stands at $0.6876, indicating a bullish trend as it is well above the 50-day EMA at $0.5258 and the 100-day EMA at $0.3874. Traditionally, this alignment in moving averages is seen as a positive sign for continued upward momentum.
The Moving Average Convergence Divergence (MACD) presents a nuanced picture, however. Currently, the MACD is at 0.0900, slightly down from yesterday’s 0.0909. This slight decrease might suggest a weakening in the bullish momentum, although it’s not strong enough to signal a clear trend reversal.
The Relative Strength Index (RSI) presents a more complex situation. Today’s RSI is 71.93, down from 74.17 yesterday. This high RSI, hovering above the overbought threshold of 70, suggests that SEI may have recently reached a temporary peak, with potential for a retracement as some investors might consider taking profits.
The SEI price recently attempted to breach its all-time high at $0.8779 but failed, leading to its current
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