An analyst from the More Crypto Online YouTube channel suggests the price of SEI could go higher following an 84.6% price surge in the last week.
The analyst shares two main scenarios the community should watch: one very bullish with five waves following a substantial pullback that becomes another entry point for investors, and another with the ABC structure, a slightly more bearish prediction.
“The next levels to watch are $0.97, $1.16, and $1.55,” if it holds the Jan. 2 lows, the analyst said. “Until then, we can still keep climbing in what is a setup for wave five.”
He concludes SEI “showed a lot of strength yesterday.”
According to data from CoinGecko, a cryptocurrency data aggregator with over 11,000 different crypto assets, the price of Sei (SEI) has witnessed an increase, currently standing at $0.822584, accompanied by a 3% rise in the last 24 hours and an 84.6% surge in the past 7 days.
With a circulating supply of 2.3 billion SEI, the market cap for Sei is evaluated at $1.8 billion, while the 24-hour trading volume amounts to over $1 billion.
At the same time, excitement continues from the SEI community over the Jan. 1 announcement by Jay Jog, the co-founder of Sei, regarding the successful completion of Sei V2. Collaborating with renowned blockchain security experts Zellic and OtterSec, the platform underwent code auditing to ensure a strong foundation for its upcoming deployment, introducing optimistic parallelization, a groundbreaking feature promising to reshape transaction processing.