SEI Crypto Consolidates at $0.28 as Traders Watch 50SMA Bounce for Next Move
The post SEI Crypto Consolidates at $0.28 as Traders Watch 50SMA Bounce for Next Move appeared on BitcoinEthereumNews.com.
Sei is trading at $0.28, down 1.12% in the past 24 hours, as the token hovers around a crucial support zone that could dictate its near-term trajectory. Market watchers point to the 50-day simple moving average (SMA) on the 3-day chart as a decisive level, with past rebounds from this line sparking major rallies. While price action shows consolidation, the setup could be laying the groundwork for a breakout if buyers reclaim momentum. 50SMA Holds the Spotlight A recent post by analyst Ali underscores how important the 50SMA has been for SEI’s historical performance. He notes that the last significant bounce from this level led to a 120% surge, pushing the token into a strong upward phase. Ali suggests that the asset is once again sitting in a similar position, where the moving average may act as a launchpad if buyers step in aggressively. Source: X The chart shared by the analyst outlines three distinct phases: a prolonged downtrend earlier in 2024, followed by a sharp parabolic rally that carried the crypto to highs near $0.40, and finally the current consolidation between $0.28 and $0.30. This back-and-forth around the moving average reflects indecision, with the market weighing whether the token has the strength to repeat its previous explosive rebound. Traders are watching closely, as history suggests this zone has the potential to mark turning points. Market Snapshot Shows Balance Fresh market data reveals SEI’s current standing within the broader crypto landscape. With a market capitalization of $1.70 billion and 24-hour trading volume of about $102 million, liquidity remains strong enough to support meaningful price moves. The Crypto ranks #87 among cryptocurrencies, reflecting steady investor participation despite its recent consolidation. Source: BraveNewCoin The price range has been tight, oscillating just above and below the $0.28 level. This muted behavior signals that…
