The Sei price soared 23% in the last 24 hours to trade at $0.4645 as of 03:55 a.m. EST on trading volume that skyrocketed 239% to $579 million.
The pump made SEI the top gainer among the biggest cryptos by market capitalization, according to CoinMarketCap.
Sei Price Could Continue Soaring
The Sei price has experienced significant pressure from the bulls and bears since August, as it formed a double bottom pattern, with the bulls struggling to push the price of Sei above the $0.32 resistance, according to data from GeckoTerminal.
SEI has finally soared above the resistance, with the token now on a sustained bullish stance.
The price of Sei eventually crossed above both the 50-day and 200-day Simple Moving Averages (SMAs), supporting the assetâs current bullish outlook.
Moreover, the Relative Strength Index (RSI) is also soaring above the 70-overbought region, currently at 82, indicating that the asset is under intense buying pressure, with the asset being overvalued.
Meanwhile, the Moving Average Convergence Divergence (MACD) also encourages the bulls to buy more, soaring past the neutral line. The green bars on the histogram are also beginning to form above the zero line, indicating that SEI is currently on positive momentum.
If this momentum continues, the Sei price could surge even more, as the bulls target $0.5537.
SEIUSD Chart Analysis Source: GeckoTerminal.com
However, with the RSI now soaring past the overbought region, the token is now overvalued. This may be a selling signal for the bears. If the selling begins at this level, SEI may plunge below the 50-day SMA to the 200-day SMA at $0.31.
As the Sei price soars, investors are also buying the new meme token Crypto All-Stars (STARS), which has already amassed over $1.59 million in presale and offers a staggering annual staking yield.
ClayBro, a prominent crypto analyst with over 130K subscribers, says PEPU has the potential to soar 26X after its launch.
Crypto All-Stars Presale Secures Over $1.5 Million
Crypto All-Stars is heating up the meme coin sector by offering its tokens a new utility: passive income generation via unified staking.
STARS introduces an industry-first capability, enabling the top meme coins in the space, including Dogecoin ($DOGE) and Pepe ($PEPE), to be staked together, enabling their holders to earn a singular rewardâthe native $STARS tokenâthrough the MemeVault protocol.
Why Is Everyone Excited?
In its initial presale phase, Crypto All-Stars raised over $350k! đ°
This early success shows that investors see BIG potential here. đ
Could this be the next $PEPE? đ
â web3telepath (@web3telepath) August 15, 2024
Shiba Inu, Floki, Brett, Mog Coin, Milady, Turbo, Toshi, Coq Inu, and Bonk can all be staked on the platform, and more meme coins will be added in the coming months.
You can also earn passively through the projectâs native staking mechanism, which offers a stunning 930% annual percentage yield (APY).
You can buy the token now for $0.0014652. The price will increase in less than 3 days, so donât wait too long if you want the best deal.
Purchase $STARS from its official website here using BNB, USDT, or a bank card.
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