As Donald Trump’s World Liberty Finance acquired the SEI token for the primary time in its DeFi shopping for historical past, the SEI value skyrocketed. With an intraday surge of 11.06%, the DeFi token is presenting a double-bottom reversal.
Aiming to conclude the lower-high formation and begin a brand new bullish pattern, the SEI value has now reached the $0.25 psychological mark. Will this bullish continuation result in a brand new swing excessive in SEI costs? Let’s discover out.
Is SEI Prepared for a Bullish Explosion?
Within the each day value chart, the SEI value pattern showcases a bearish reversal from the $0.70 mark to $0.21. Presently, the sideways pattern close to the $0.21 help degree hints at a double-bottom reversal.
The intraday restoration of 11.25% creates a second consecutive bullish candle. Moreover, the bullish engulfing candle breaks above the neckline at $0.24 and breaches the 20-day EMA line at $0.25199.
Presently, the SEI token trades at $0.25737. Supporting the double-bottom reversal, the each day RSI line reveals a bullish divergence. Moreover, SEI’s buying and selling quantity has surged by over 80% previously 24 hours, signaling sturdy investor curiosity and liquidity. This will increase the possibilities of a pointy comeback in SEI costs.
Key Resistance & Assist Ranges: What’s Subsequent?
Regardless of the short-term restoration, the prevailing downfall has resulted in a bearish alignment within the 50-, 100-, and 200-day EMA traces. Therefore, the bull run is more likely to face opposition from the dynamic common traces.
Moreover, the Fibonacci ranges paint the fast resistance degree at $0.286, close to the 23.60% Fibonacci mark. In case the uptrend surpasses the 23.60% degree, the bull run will seemingly face resistance on the 200-day EMA close to the 50% Fibonacci degree at $0.39165.
Trump’s Fund Joins SEI: What Does It Imply for the Market?
Lately, Donald Trump’s World Liberty Monetary made its first-ever SEI buy. In change for 125,000 USDC, the fund acquired practically 548,000 SEI tokens.
This brings the full holdings of World Liberty Monetary to $117.365 million. Regardless of its SEI acquisition, the fund’s largest holding stays Ethereum, price $46.617 million. SEI’s value surge comes amid renewed curiosity in DeFi tokens, with analysts speculating main inflows following WLFI’s transfer.