In these days when Tier-1 projects attract great attention, Sei (SEI) attracted attention with its increase.
The cryptocurrency market entered a bullish mood last September with news of Bitcoin (BTC) trading in spot exchange-traded funds (ETFs). While the market witnessed a rise in September and October, things changed in November.
BTC, which rose 40 percent between September and October, spends November with a calmer price structure. The fact that BTC still maintains its positivity has started to bring many altcoins to the fore. Especially the Tier-1 craze has reached a remarkable level. SEI, one of the Tier-1 projects, has become a hot topic with its sensational rise. SEI has increased by approximately 40 percent since November 22.
Will Sei (SEI) become the new Celestia (TIA)?
Layer-1 blockchain project Sei (SEI) has increased by nearly 40 percent since November 22, 01:00 UTC. SEI experienced a large increase from $0.1460 to $0.20. SEI, which experienced a sharp rise in a short time, brought TIA to mind. TIA attracted the attention of investors by experiencing a 150 percent increase in one week.
SEI, which has a similar structure, impressed with its rise during the day. SEI, which is quite cheap compared to projects such as TIA in terms of market value, has the potential to experience a bull run. However, the market does not remain as positive as it was during the period when TIA rose. The possible negative news flow from Binance makes us think that profit sales may come at any time.
When looking at the SEI chart, it is possible to say that the price has settled in an important region. SEI broke the $0.1842 resistance in a short time, revealing a 20 percent rise. Additionally, the resistance zone at $0.1842 has also become a support point. This rise of SEI brought $0.25 to the fore.
If BTC does not decline, market conditions remain positive and negative news flows do not decrease, SEI could test the $0.2151 resistance. If the resistance in question is overcome, SEI may rise to the psychological resistance point at $0.25. The $0.25 resistance is a critical level where intense selling pressure may occur. If this zone is also breached, the next target for SEI will be $0.28.
On the other hand, SEI could decline as market conditions reverse and test the support zone at $0.1842 in a negative market environment. If this region is lost, the price may drop to $0.1704 in a short time. In case of strong selling at $0.1704, it can be tested up to $0.15.
