Potential increase in the SEI's cost over the impending days explained
The SEI token, native to the Sei blockchain, has been on an upward trend in recent months, with a 45% increase over the past three months and a further 6.3% gain in the past week. Currently trading at $0.32, the token's trajectory suggests a bullish trend, but there are some key factors to consider.
If the SEI token fails to hold above $0.35, sellers might momentarily benefit, with a potential drop to $0.29. Conversely, if the token manages to break through this resistance, it could strengthen the bullish trend and attract institutional investors. The key resistance for SEI currently stands at $0.35.
For those interested in buying SEI, Bitget offers a $10 bonus as an incentive. To get started, users must first sign up, complete KYC verification, deposit funds, search for the SEI/USDT pair, and place a buy order. It's important to note that as of now, the search results do not specify which institution holds the largest short positions in the SEI token on Bitget. However, it is known that short positions for SEI outnumber long positions by approximately $11.2 million.
A major bullish signal for SEI is the upcoming crossover of the 100-day EMA and the 200-day EMA, which could potentially trigger a short squeeze on Bitget. This event could cause cascading liquidations and propel SEI higher, with the next target being $0.37. The current support for SEI is at $0.31.
In conclusion, the SEI token has shown promising growth in the past few months and presents an opportunity for investors. However, it's crucial to keep an eye on the key resistance and support levels, as well as the upcoming crossover of the EMAs, which could significantly impact the token's price. Happy investing!
