SEI Price Prediction: SEI Breaks Out 1% – Is This the Next Bull Run?

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SEI Network represents a layer-1 blockchain framework developed on the Cosmos SDK platform, with a specific focus on catering to the needs of high-frequency trading applications. This network offers transaction speeds that outpace even prominent platforms like Solana.

During a strategic funding round in April, the project secured an impressive $30 million investment. Notable contributors to this funding round included Jump Crypto, Multicoin Capital, and Flow Traders.

As a result of this successful funding round resulted in Sei Network’s overall valuation reaching a substantial $800 million. Meanwhile, the network’s native token has recorded a notable upswing, particularly within the past week.

This surge in value can be attributed to its recent listing on several significant exchanges, most notably Binance, which occurred on August 15.

As of today, August 22, the token’s value continues to climb, showing a gain of over 1% within the last 24 hours.

SEI Interest Increasing in South Korean Market, More Price Gains?

The Sei network has recorded a strong interest within the South Korean retail market, leading to a surge in trading activity on local exchanges like Bithumb and Upbit.

At launch, SEI traded at $0.26, but as of 05:57 AM EST today, August 22, the coin trades at 0.15 cents. Its trading activities have skyrocketed, pushing the volume to $108 million in the last 24 hours.

With more traders engaged in the ecosystem, there is a possibility for a price increase if the buyers take more control of the market.

SEI’s Price Moves on Chart Today Indicate Potential Bull Run Ahead. Will this Hold?

After examining the prevailing patterns within the market, Sei’s price for the latter half of 2023 remains uncertain. Should purchasers effectively capitalize on the breakout from the descending channel, the immediate trajectory of Sei holds the potential for a promising outlook.

However, transforming the previous $0.21 support into a strong resistance level could establish a psychological barrier for any near-future recovery.

If the token price rebounds from the $0.15 support level, it could move toward the trendline resistance. As such, investors should monitor the token for a possible breach above the 9 EMA, as it might determine the possibility of a short-term upswing.

If this scenario occurs, buyers should expect the price to hit the $0.24 resistance before initiating a substantial rally. But given the Bitcoin fear and Greed Index hovering within the ‘Fear’ territory, the market’s disposition toward strengthening its purchasing power remains average.

Consequently, any significant downward move beneath the $0.15 support could expose SEI to heightened vulnerability, potentially causing further downturns.

Based on the present evaluation, SEI could record the lowest point around the $0.11 mark by the year’s end. It also can ascend to a peak price of $0.46.

Strategic Partnerships and Macros Will Likely Affect Sei’s Future Trajectory

Like other crypto projects, Sei blockchain’s growth hinges on strategic partnerships, technological enhancements, and prevailing market conditions. The broader market context will exert substantial influence over the fluctuation in SEI’s value during that period.

Insights provided by Jeff Feng regarding the functionality of Web 3 infrastructure shed light on existing limitations. Sei is taking steps to overcome these challenges by introducing a range of 30 innovative applications, including the introduction of DEX SushiSwap’s perpetual futures exchange integrated into its protocol.

Additionally, the infusion of a significant $50 million commitment from Foresight Ventures will increase the Sei Ecosystem Fund, bringing it to an impressive $120 million.

Sei’s Partnership with Graviton Encourages Future Expansion

Sei’s collaboration with Graviton targets India’s growing blockchain sector. By entering this space, Sei is tapping into one of the world’s most substantial developer communities and crypto user bases.

This strategic move can contribute significantly to the sustained expansion of Sei’s reach. With these transformative updates and features taking center stage, Sei is poised to attract a broader user base, reflecting the overall enlargement of the network.

Performance metrics, including the count of active users, provide real-time insights into this evolving expansion. As these factors unite, SEI could rise to highs of approximately $0.95, supported by a strong support level near the $0.68 mark.

SEI’s Alternative – yPredict

Even before the growing attraction towards Sei Network’s investment, a meme coin yPredict, had emerged as an enticing option for investors.

At its core, yPredict leverages the power of artificial intelligence (AI) to revolutionize trading analysis, providing users with data-backed insights.

A standout feature of yPredict is its unwavering commitment to ensuring the credibility of its trading models – every prediction undergoes thorough validation by members of the yPredict DAO.

Besides, the latest update from the platform unveils an alternative model known as the ARIMA Artificial Intelligence model.

Much like its counterpart, this model is designed to forecast upcoming price fluctuations of the ETH token. The AI model has displayed commendable overall effectiveness, and the report summarizes the findings.

Uncovering $YPRED functionalities

Another critical aspect of the project is its native token, $YPRED, a crucial channel for various functionalities.

Holders of these tokens can gain access to the yPredict analytics platform, subscribe to the prediction marketplace, and participate in staking to enjoy attractive rewards.

This combination of components has propelled the yPredict project to expand its user base rapidly. Thus, the project garners considerable enthusiasm from investors eager to allocate substantial capital to this token. This is mainly due to its utility and tangible product that can boost investor profits.

These advantages extend beyond its token’s tokenomics. Its functionality empowers newcomers, experienced investors, and traders to enhance their decision-making capabilities.

In the meantime, the token is available at a low rate of $0.1, poised to rise in value once it surpasses its upcoming milestone. Seizing this opportunity is most prudent while the offer remains.

As such, intending investors can engage in its transformative journey by connecting their wallets through the project’s official website and purchasing the tokens using ETH, BNB, USDT, or MATIC.