DEC 22, 2023
(Alpha) Weekly Altcoin Review: Sei ($SEI)
by Crypto Alpha, BXVb7rtP5dwgpuKWx3S1B78sdwibsPstuowsyzjpU1jE
Crypto Alpha is dedicated to providing you with a weekly altcoin alpha, consistently delivering valuable insights and opportunities in the dynamic world of cryptocurrencies. Stay ahead of the curve with our expert analysis and recommendations, ensuring you have the knowledge and tools to make informed decisions in the ever-evolving crypto landscape.
The SEI Token for the Permissionless Seilors...
The SEI token was launched on Binance in August 2023, after which it made a 3X parabolic bullish momentum before starting to grind slowly to the downside. The token started to show significant appreciation in November, as $SEI began to generate outstanding interest among investors. There have been network upgrades and a surge in the developers’ activity, which has fundamentally become a driver for the price appreciation of the token. If the developers continue to sustain this momentum, we can see $SEI surpass ATH (all-time high) of $0.04800 and beyond.
What is $SEI?
$SEI is an open-source Layer 1 blockchain specialized for trading, optimizing every layer of the stack to offer infrastructure for trading apps of all types. Leveraging a novel consensus and technical breakthroughs, $SEI claims to be the fastest blockchain in existence.
$SEI has implemented several important improvements into its underlying network architecture, including the Twin Turbo Consensus mechanism that achieves an industry-leading level of performance. This mechanism provides a lower bound time to the finality of 300ms in Sei's internal testnet, which is 10 times faster than Solana.
In addition, $SEI has a native order-matching engine built into the chain that enables exchange apps built on top of it to scale effectively. Read more interesting details about the project here (https://www.coingecko.com/learn/what-is-sei-network).
Why are we interested in $SEI?
Just as aforementioned, the SEI’s latest growth can be attributed to its innovative blockchain technology, reputed validators, and support from the Sei Foundation. If the team continues in line with this momentum on this solid project, we may see a reposition of this token among the top 20 altcoins. Not to forget the crypto market is gearing toward another super bullish cycle, where almost everything goes in one direction, UP!
Let’s get into the charts!
SEI DAILY CHART
This is a bull flag formation in the $SEI chart on the daily timeframe. The bulls have taken over on this project as they keep pumping the price which is currently hovering around $0.033760 (as of the time of writing), attacking the ATH which sits at $0.04800. Now we hope to join this move if the price retraces to our liquidity levels, this is what we consider to be safe entries.
SEI WEEKLY CHART
The weekly and the daily timeframe are in sync, as our liquidity level from the daily timeframe became clearer on the weekly, if the price revisits our first support level which is at $0.2234, we will begin to stack in our others from there. In other to give room for market volatility, we shall also be considering our subsequent levels at $0.01336 and $0.00967 respectively. It's best to use the DCA strategy with this level to not get worked up due to market volatility. Our first take profit is at the ATH $0.04800. Since this market has already expanded its range from the inside, we can only DCA our profits as the market presents them to us.
Remember to trade in your own best interest, only commit what you can afford to lose. May the market go with us!
We may make a review of this publication as the market evolves...
If you need a further breakdown, inquiry, or analysis on any particular coin, feel free to email us (firstname.lastname@example.org).
See you again soon. May the markets go with us!
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