SEI Targets $0.29 in Attempts to Breakout from 23-Day Downtrend
The post SEI Targets $0.29 in Attempts to Breakout from 23-Day Downtrend appeared on BitcoinEthereumNews.com.
Sei (SEI) has been experiencing a protracted decline over the past several weeks, regaining key levels while the market continues moving sideways. Today, market analyst MACrypto Alex disclosed that SEI is trying to break above a short-term downward momentum as selling pressure decreases. $SEI is attempting to break above its short-term downtrend. Trump’s project bought it a few days ago and since then it has shown some signs of recovery. A 12H close above $0.29 and SEI will start rallying hard pic.twitter.com/MTngadfFGt — AMCrypto (@AMCryptoAlex) February 23, 2025 SEI showing recovery MACrypto Alex suggested that new buying activity could be pushing the asset’s price up. According to the analyst, World Liberty Financial, a crypto DeFi project backed by President Trump, purchased SEI a few days ago. Since then, the asset has been showing recovery indicators. Last Thursday, Feb.20, World Liberty Financial (WLFI) spent $125,000 in USDC to buy 547,990 SEI tokens for the first time. While the acquisition was part of the project’s rebuilding of its portfolio, it reflected confidence in the SEI DeFi token. The recent big purchase shows strong interest in the digital asset, suggesting that other whales are purchasing more SEI tokens. According to the analyst, if the SEI’s price can reach $0.29, it can begin experiencing significant upward momentum. SEI price analysis Since early this month, SEI has been experiencing substantial correction, dropping 23.7% over the past 30 days. Despite this recent decline, the DeFi token has displayed an incredible 12.9% rise over the past week. The asset’s price is currently trading at $0.2698, indicating a possible change in trend. The recent price surge suggests that SEI is once again preparing itself for a possible breakout from the ongoing downtrend. On-chain data are beginning to display promising signs for SEI. The Chaikin Money Flow Index is…
Filed under: News - @ February 24, 2025 1:28 pm