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The Sei price plunged 10% in the last 24 hours to $0.6241 as of 5 a.m. EST on trading volume that plummeted 24% to $413 million.
Sei, which is commonly viewed as a Solana competitor, recently completed an ABC correction on the four-hour chart. Crypto strategist Bluntz on X recently suggested that the coin might be gearing up for a big surge.
Sei Price Prognosis
SEI’s price recently managed to reach a resistance at $0.75, but its price was rejected on January 30.
The token briefly encountered a support at $0.70, which briefly held it from sinking, but this level quickly broke, and so did the next one at $0.65. These two levels have since became resistances that are now holding the SEI price under them.
In other words, if SEI price surges in the near future, it will have quite a few levels to breach before it recovers.
As of the time of writing, however, the token seemingly found its bottom just above $0.62. Its Relative Strength Index (RSI) shows that it has gone from the overbought zone into the oversold area, with a current score of 37.33.
This could be a good thing for the token’s price, as traders might see it as the right time to buy the dip, especially if well-known analysts are predicting that SEI is about to surge.
However, Bollinger bands tell a different story, as the chart above shows. The bands have narrowed considerably over the last few hours, which is seen as a bearish signal, and could potentially hurt the token further.
For now, SEI price has stabilized, but it could easily break the support at $0.62 and drop to $0.60 or even lower if the bearish pressure continues.
Alternatively, if Bluntz’s prediction is correct and SEI sees a price surge, it will have a difficult time reaching $1, although it could still see a significant recovery to $0.70, or possibly back to $0.75.
A surge to $1 would likely require a stronger bull run which would affect a wider crypto market, and as of right now the market is in the doldrums.
Explore our SEI price prediction guide.
Promising Alternative to Sei
While SEI’s predicted surge to $1 could bring significant gains to the token’s holders, there are other opportunities that could be even more profitable.
One example is a token called eTukTuk (TUK), which is currently in the middle of a presale.
The token invites investors to join the presale and, in doing so, also join the green AI revolution. This is an AI-powered sustainable transport solution that seeks to revolutionize transportation in developing nations, and eventually, everywhere in the world.
Some in the industry suggest that ARK’s Cathie Wood would love this project, given her long-term support of Tesla, sustainability, and green solutions.
Happy New Year from eTukTuk! 🎉
As we usher in 2024, let's ride into a year of green journeys, sustainable choices, and impactful collaborations.
Together, let's drive change and make it a year of sustainable mobility! 🚗💚#NewYear2024 pic.twitter.com/IfP0xdGi05
— eTukTuk (@eTukTukio) January 1, 2024
Those who feel the same and tend to support green alternatives might want to join the project’s presale and help achieve its goal.
The presale has already raised over $730k while selling its TUK token for only $0.02625. The token can be bought in exchange for BNB or USDT, or you can purchase it directly with a debit or credit card.
As of the time of writing, the token has a bit over 12 days before it sees another scheduled price increase, so be sure to buy at the lower rate so you are in profit before it lists.
You can participate in the presale here.
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