SEI Price Surge Signals has a strong upward momentum, with rising transaction volumes and active addresses, positioning the network for a potential breakout in 2025. SEI$0.46 is positioning itself as one of the top cryptocurrency performers over the last day despite a slight rebound among the altcoins. The SEI market price is approaching a critical psychological threshold after rising 5.31% to achieve a market valuation of $1.88 billion. A possible parabolic increase in 2025 is suggested by its rising transaction counts and active addresses. One blockchain network that is well-known for offering scalable, effective, and fast decentralized applications (dApps) is SEI.
SEI Network Growth
The SEI network sees a notable increase in its primary measures as the likelihood of a bullish cycle in 2025 increases. Over the past 24 hours, there has been a 10% increase in transactions and 99% more active addresses on the network. With 489.25k active addresses, the number has surpassed 450k. In the meantime, over the last 24 hours, 855.19k transactions have occurred. The total value locked (TVL) across the SEI network has increased to $577.15m iamidthe network’s rapid expansion. The 24-hour volume has risen to $26.43m because of the short-term rebound, even though it is lower than its peak of $751.67m.
The number of unique active wallets (UAW) on the SEI network has risen to an all-time high of 441.85k amid the growing number of active users and transactions. SEI is increasing despite the short-term bearish side of the cryptocurrency market thanks to an increase in its important network indicators. This month, Spin City, Dragon Slayer, and Archer Hunter are at the top of the SEI network’s dApp rankings.
SEI Prepares for Breakout
With a market valuation of about $2 billion, it is ranked #63 in the cryptocurrency market. The SEI price activity on the daily chart may exhibit higher high and higher low forms. Conversely, the SEI price trend creates an upward, widening wedge formation. SEI is getting ready for a bullish cycle and is close to the support trend line.
A technical chart pattern known as the ascending expanding wedge is defined by trendlines that slope upward and gradually diverge, signifying a rise in price volatility. The price may find it difficult to sustain momentum and run the risk of breaking below the support trendline; this pattern is usually bearish. Last night, SEI challenged the 200-day EMA line and formed a morning star pattern with a 9% gain. It is currently below it and getting ready for a breakout rally.
SEI Price Targets
The upside potential shows a price increase of about 82% if the SEI can challenge the resistance trendline. The price of the above resistance trendline is close to $0.8157. As a result, it raises the likelihood that SEI will psychologically reach $1.00. The pattern creation is still bearish, though. The likelihood of a positive crossover in the MACD and signal lines has increased due to the overnight price spike. Based on past price spikes, the 200-day EMA line’s breakout could jeopardize the $0.55 resistance level. However, it is possible to challenge the previous low formation at $0.33 if the support trend line breaks.
Also Read: Ethereum Price Surge and Potential to Reach New Highs in 2024
Conclusion
Despite the short-term difficulties facing the larger market, SEI is showing robust growth, setting itself up for a possible bullish cycle in 2025. The SEI network is becoming more popular as a platform for scalable decentralized applications due to notable growth in transaction volume, active addresses, and total value locked (TVL). The price of SEI is exhibiting encouraging technical indicators, creating patterns that point to an impending breakout surge. However, the ascending expanding wedge pattern’s bearish aspects call for caution as they may pose difficulties. SEI may experience significant growth and maybe hit $1.00 if it can break through important resistance levels. However, a price retracement could occur if the support trendline is broken.
