- SEI Surges 41% as Trump announces Iran-Israel ceasefire.
- SEI price smashes key Fibonacci levels ($0.2348, $0.2606).
- RSI at 74.83 hints at possible short-term correction.
The SEI price soared 41% in the last 24 hours to trade at $0.28, with its trading volume skyrocketing 258% to $832M.
This double-digit surge comes as U.S. President Donald Trump declared an Iran-Israel ceasefire, sparking bullish vibes in the crypto market.
On June 22, the U.S. attacked three key Iran nuclear sites sending the entire crypto market into a panic.
However, Trump’s ceasefire announcement early today in a long TruthSocial post has markets buzzing, with investors betting on calmer global tensions.
This kind of news is great for risk-on assets like crypto, and Sei’s reacting well to it. So what should traders expect?
Sei Price Chart Flashes Strong Bullish Signals
The Sei price chart exhibits very strong bullish signals as its price smashes through key Fibonacci resistance levels, blowing past $0.2348 (0.618 Fib) and $0.2606 (0.786 Fib).
This move shows that the bulls are in full control, backed by heavy trading volume from this breakout.
Additionally, the 50-day simple moving average (SMA) at $0.2138 is now solid support, and the price of Sei is sitting above the 200-day SMA indicating that the long-term trend looks strong.
The Moving Average Convergence Divergence (MACD), also confirms the bullish momentum. The MACD line (blue) is above the Signal line (orange) which suggests that the upward trend is likely to continue.
This is a strong buying signal for traders supported by the green histogram bars.
However, the Relative Strength Index (RSI) at 74.83 (above 70), indicates overbought conditions, suggesting a potential price correction.
The price may test the $0.2606 resistance-turned-support level first. If bearish pressure intensifies, SEI could drop further to $0.2348.
Will SEI’s Bullish Momentum Continue?
Looking ahead, if this ceasefire keeps the crypto markets calm and the bullish momentum holds, Sei could gun for its previous high of $0.2935. A break above this level could send the price of SEI to $0.30 and above.
But if the RSI’s warning plays out, a pullback could happen, allowing more traders who missed this rally to get it before another price surge.
In the short term, the price of Sei could test $0.29–$0.30 if bullish momentum persists. However, profit-taking might trigger a dip to $0.25–$0.26.
Moreover, if global tensions remain calm and crypto sentiment stays positive, Sei has the potential to pump to $0.40 in the long term.
