SEI Price Prediction: SEI Coin Explodes 35% As This ETF-Themed Bitcoin Alternative Closes On $2 Million In Presale

Updated: 29 November 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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SEI price exploded 35% in the last 24 hours as trading volume soared 205%.

SEI Price: What Technical Indicators Say

With a market range measured from $0.0646 to $0.4800, SEI price is trading above the 50% Fibonacci retracement at $0.2723. Based on the technical indicators, there could still be more upside potential for SEI.

However, traders looking to take long positions should probably hold their horses as the Relative Strength Index (RSI) shows SEI is massively overbought.

Nevertheless, it does not warrant closing the positions, as SEI price could still forge north. Instead, traders should watch for the RSI crossing below 70 to exit their positions. This would be how to stay profitable.

The Awesome Oscillator (AO) also shows the bulls are leading the market. Its histogram bars are soaked in green and holding in the positive zone.

The Moving Average Convergence Divergence (MASCD) indicator also corroborates the thesis, moving in the positive territory. Its inclination to the upside shows more bulls are still coming in, even as its histogram bars echo what is already seen on the AO indicator. These indicators add credence to the bullish thesis.

Increased buying pressure could see SEI price break above the most important Fibonacci retracement, 61.8%, at $0.3213. Further north, the gains could extend for SEI market value to test the 78.6% Fibonacci retracement at $0.3911.

In a highly bullish case, the price of SEI could go higher, filling the market range by testing the 100% Fibonacci retracement level at $0.4800. Such a move, constituting a 65% climb above current levels, would see the price reclaim the mid-August highs.

Converse Case

On the other hand, increased seller momentum could see SEI price slip below the 50% Fibonacci retracement under $0.2723. Lower, the slump could send the price to the 38.2% Fibonacci retracement at $0.2233. A break and close below this level would invalidate the bullish thesis.

In the dire case, the slump could send SEI market value to the 23.6% Fibonacci at $0.1626. Thus would plunge SEI price back into the consolidation phase, with the potential to dip further to the foot of the market range at $0.0646.

It is worth mentioning that the RSI above 70 shows that SEI is overbought. In normal circumstances, this foreshadows a correction. Investors should therefore brace for a pullback and prepare for it to stay profitable.

SEI will be ripe for selling once the RSI crosses below the 70 mark to the downside.

Promising Alternative To SEI

Meanwhile, many investors are turning their attention to Bitcoin ETF Token, with the crypto market anticipating the approval of spot exchange-traded funds (ETFs).

Describing #BitcoinETF: not just an anticipation for the #Bitcoin #ETF surge, but a utility #Token! 🚀

A quarter of the supply is set for incentives, promoting network strength.

Stay tuned for details on the platform for full transparency! pic.twitter.com/loXeh8JyMQ

— BTCETF_Token (@BTCETF_Token) November 26, 2023

This is because it is the only project that rewards holders as Bitcoin ETFs are approved. Some analysts are optimistic it can provide 10X gains.

Bitcoin ETF Token, whose ticker is BTCETF, is a new crypto presale and one of the five best crypto ICOs to buy in 2023. The token is selling for $0.006, a price tag that will only be on the shelves for the next three days.

#BitcoinETF Stage 6 has officially started! 🎉 pic.twitter.com/3fdtIR4TyK

— BTCETF_Token (@BTCETF_Token) November 28, 2023

So far, presale sales have reached $1.952 million, out of a $2.498 million target. Investors can buy BTCETF using Ethereum (ETH), Tether (USDT) stablecoin, or bankcards. Buying the token puts you in the front line of investors who continue to front-run the approvals.

The #BTCETF #Token stands as more than a typical #DigitalCurrency; it's a forward-thinking initiative shaping the future of #Bitcoin ETFs. 🌟

Leveraging #Ethereum, #BitcoinETF foresees and embraces this forthcoming evolution, presenting exclusive advantages to its user base. pic.twitter.com/inReCyJ3Ax

— BTCETF_Token (@BTCETF_Token) November 28, 2023

The project has a 5% burn tax on every transaction. The strategy is expected to ultimately lead to a gradual reduction in the supply of the BTCETF tokens with goal to burn 25% of the tokens as specific milestones are achieved, thereby preventing selling pressure.

Visit Bitcoin ETF Token website to buy BTCETF here