SEI Price Prediction: SEI Dips 4% – Buy Opportunity or Caution Sign?

SEI is raising jitters with its 4.7% market cap decline on CoinMarketCap today, August 21, 2023. Despite the coin’s price dip in the last 24 hours, SEI’s potential for significant gains is within reach since it projects a buying opportunity.

A trend reversal could occur once buying activities begin to increase.

Since SEI’s dip today reflects on its trading volume, price, and market cap, traders and investors may consider this negative market sentiment as a sign to pause or slow down trading activities.

SEI Launches Its Public Mainnet, Pacific-1, in 5 Days and Unlocks Numerous Achievements

The recent update in the SEI ecosystem, Pacific-1 Launch, is one factor that could drive SEI’s coin’s growth. According to SEI on Twitter (now rebranded as “X”), the Pacific-1 Mainnet launch has bridged several revolutionary platforms enabling more utility and solutions to all on-chain traders and crypto enthusiasts.

In SEI’s tweet on August 19, an innovative platforming game, Double Jump, is now live on the mainnet, allowing game lovers to connect with friends and play at Chain Wars.

Sei Public Mainnet, Pacific-1, has been live for just 5 days.

Let's take a look at some of the highlights so far. pic.twitter.com/j8TpkHH50p

— Sei 🔴💨 (@SeiNetwork) August 19, 2023

Also, another platform, Seilors, has released its Snapshot tool on the SEI ecosystem, allowing projects to easily extract a list of holders within their collection in .txt formation. This will include holders in the Mainnet and Testnet.

Other platforms integrating SEI ecosystems within their operations include Pallet NFT Marketplace, WeBump, Flipside, Pulsar Finance, Fuzio, Astroport, and Levana Protocol.

This recent collaboration with these platforms might positively affect the SEI ecosystem and its Token’s value.

Since the Pacific-1 project has moved from the development phase to a fully functional and operational state, it’s likely to enhance the SEI’s credibility and attract more serious investors, developers, and partners.

Also, considering the new features, improvements, and technical advancements to the cryptocurrency’s network, Pacific-1 SEI will be more robust and attractive to both users and developers.

Increasing Token’s use cases across these platforms will likely record increased adoption and utility across smart contracts, decentralized applications (dApps), or other utility functions.

SEI Still Down in The Last 24 Hours Despite Potential Price Gain from Recent Ecosystem-Related Developments

At 7:05 am EST today, August 21, SEI plunged 6% to $0.1445. Again, its 24-hour trading volume is down by 14.5% to $102 million within the same timeframe.

Despite positive ecosystem-related developments, SEI’s price movement in the last 24 hours shows that the overall negative market sentiment obstructs the coin’s expected price appreciation.

SEI/USDT Daily Chart

In the chart above, SEI has been in an intermediate trend and under the control of the bears over the past 68 hours. 

This trend is reflected in the small red and green candle sticks formation, showing the weak momentum between the bearish and bullish sentiments on the coin’s price.

Also, the Token is trading a few pips above its lower Bollinger band. This shows that SEI is facing an oversold market condition, representing the bearish market trend in the token market. 

According to the chart above, SEI’s Relative Strength Index (RSI) is at 39.51, moving in the neutral region. This shows no significant selling or buying activities in the coin market. This confirms the intermediate trend on the chart.

However, since the market’s trend is bearish, SEI could face more decline in price, pulling the RSI downward to the oversold region (below 30). 

Conversely, SEI’s Moving Average Convergence Divergence (MACD) indicator is above the signal line with green faded histogram bars. This shows the coin’s weak bullish momentum. Given the small green candle formation on the chart, SEI could encounter a price rally within the next 4 hours.

If that happens, the RSI may continue upward, gaining more stance within the neutral region (between 30 and 70). Given the mixed market scenario, traders and investors may wait for SEI’s price to determine its next movement, up or down. 

Meanwhile, the oversold market condition may trigger a price bounce in the long run as traders buy more units of the SEI token at its low price. 

Either way, individual analysis, risk tolerance, and trading strategy must be in place before trading. While SEI’s technical analysis projects its potential for a price rally, another token is making waves with its revolutionary features and utility in the crypto space, Launchpad XYZ.

Revolutionary Web3 Hub, Launchpad XYZ, poised to Debut 24/7 Automated Trading Bots

The project’s tweet on the rebranded social media “X” urges early investors and crypto enthusiasts to buckle up for the upcoming Automated bot trading. 

Get ready to trade 24/7 with our automated trading bots 😎🚀

Let technology work for you at #LaunchpadXYZ

Join our community to find out more!
👉https://t.co/ZUZaIKgy84
#Web3 #Crypto #Trade #Altcoins pic.twitter.com/bCJi0uj8uM

— Launchpad.xyz (@launchpadlpx) August 20, 2023

Launchpad XYZ says the automated bots will trade 24/7, using technology to optimize investors’ trading strategy.

Interestingly, the project is set to launch an AI trading insight to guide all Launchpad XYZ’s users for smarter trading. This will provide sharp, data-driven insights into all moves they make in the market. 

Let AI guide your trades. #LaunchpadXYZ offers sharp, data-driven insights for every move ⚡️

Secure your spot today ⤵️https://t.co/ZUZaIKgy84
#AI #Crypto #Web3 #Blockchain #TradeSmart pic.twitter.com/JkztdzcrtH

— Launchpad.xyz (@launchpadlpx) August 19, 2023

By harnessing the power of artificial intelligence (AI), traders and investors will experience fewer losses and more profits.

Launchpad XYZ’s Cutting-Edge Features

Besides the automated bot trading and AI trading insights, Launchpad XYZ comes with Trading Terminal that focuses on attracting market-top liquidity providers and a Trading Edge to optimize and execute trades at optimal times.

Its all-web3-in-one dashboard allows users to access all web3 products and services from one user-friendly dashboard. This will help users get an edge in the web3 sector and monetize their experience.

Launchpad XYZ’s Token, $LPX, is still in presale with over $1.3 million raised so far. With an initial valuation of $1.55 million, the presale needs an additional $188 thousand before it comes.

Considering the increased attraction, the project is garnering $LPX to sell out faster before its expected deadline. With its price as low as $0.0445, those interested in this revolutionary web3-hub project can buy in using their ETH, BNB, USDT, or bank cards.

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