How are the coins Sei (SEI), Ondo Finance (ONDO), and Cetus Protocol (CETUS) performing within the crypto market? Let’s see all the details in this article, especially after Trump’s victory in the US elections.
Forecasts on SEI: 30% increase expected amid volatility and bear sentiment
The value of SEI could increase by 30.34% in the next five days, according to the latest forecasts.
Currently trading at approximately $0.343257, SEI has experienced a decline of 6.22% in the last 24 hours, recording a worse performance compared to the cryptocurrency market, whose total value has decreased by 7.88% in the same period.
Today, SEI lost 5.02% compared to Bitcoin. Despite this short-term negative trend, the forecast indicates that SEI could reach $0.464652 by November 8, 2024, suggesting a possibility of recovery.
Looking at longer periods, SEI has shown a significant growth of 205.23% over the last 12 months and a bull of 48.66% over the last three months, despite a recent bear of 18.81% in the last 30 days.
The all-time high price of SEI, reached on March 16, 2024, was $1.14, while in the current cycle the maximum price has been $0.518672 and the minimum $0.207365.
The technical indicators suggest a bear sentiment with 21 negative signals compared to only 3 positive ones, while the Fear & Greed index shows a value of 69, indicating a phase of “greed” among investors.
This can indicate an overvaluation of the market, leading to a possible increase in volatility.
Monitoring the support levels ($0.358746, $0.350662, and $0.337270) and resistance ($0.380222, $0.393614, and $0.401698) will be crucial to assess the price evolution of SEI and understand if the potential bull increase will materialize within the next week.
Ondo Finance: rebound forecasts for ONDO despite the bear sentiment
The price of Ondo Finance (ONDO) stands today at approximately $0.605897, marking a loss of 3.5% in the last 24 hours. This coin has recorded a performance lower than the general cryptocurrency market, which in the same period has lost only 0.64%.
Against Bitcoin, ONDO experienced a decline of 1.98%. Despite these short-term difficulties, the price forecasts for Ondo Finance indicate a possible bull rebound.
ONDO could indeed reach a value of $0.770575 by November 9, 2024, marking an increase of 29.92% in five days.
In the last month, Ondo Finance has maintained a bear trend, losing 13.93% of its value, while on a three-month time scale, the loss was 15.79%.
However, looking at the long term, ONDO has shown an annual positive growth of 167.25%. Its all-time high was reached on June 4, 2024, when the price of ONDO hit $1.46.
Currently, the maximum cycle peak is $0.855371, while the minimum is $0.520221. Despite the current bear sentiment, with 21 technical indicators out of 26 in favor of a negative forecast.
The price analysis of ONDO could therefore present short-term buying opportunities. Ondo Finance recorded 12 days of closing in positive territory in the last 30 days, with monthly volatility reduced to 6.08%.
The crucial support levels to monitor are $0.595217, $0.566922, and $0.543631, while the key resistances are located at $0.646803, $0.670094, and $0.698389.
The simple 200-day moving average (SMA 200) shows that ONDO is currently above this line, a signal of a possible bull trend in the long term, despite the prevailing sentiment.
Optimistic Forecasts on Cetus Prices: the Comparison with SEI and ONDO Crypto
Tuesday, Binance, one of the largest cryptocurrency exchanges in the world, sparked a wave of optimism in the crypto sector by announcing the listing of CoW Protocol and Cetus Protocol.
After the news, the prices of the respective tokens skyrocketed, with CoW seeing an increase of 82% and Cetus a +60%.
This rise has sparked strong enthusiasm among traders, who have responded with an increase in trading volumes, particularly by 812% for Cetus.
The announcement, officially released on November 6, informed that Binance users would be able to start trading on the pairs COW/USDT and CETUS/USDT. Additionally, withdrawals for the two tokens will be active from November 7.
The exchange did not apply any listing fee (0 BNB), emphasizing the commitment to support these new assets in the market.
Binance also highlighted that trading bots and spot copy trading services would be active for these tokens within 24 hours of their listing.
This has further fueled investor optimism, leading the prices of CoW and Cetus to reach $0.4364 and $0.3106, with significant trading volume in the 24 hours.
Despite the rise, there remains a certain uncertainty among enthusiasts of the sector regarding the sustainability of these increases.
However, the enthusiasm of the market is palpable. Furthermore, many industry observers are now focused on the ability of these tokens to maintain or even amplify short-term gains.
