SEI’s unencouraging price action has not deterred some of its community members from believing in its strength and future. The price of SEI broke out of a descending channel in mid-September and saw only a slight rally.
Rather than going up, SEI has been trading sideways, constantly remaining below a key resistance point at around $0.51. The price could not break out of this level despite attempts on September 28 and October 14.
The attempt to break above again was disappointing three days ago. Although we are seeing some recovery, the resistance at the yellow line remains a key factor. Perhaps, a break above this level could trigger a rally.
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Despite these weak price movements, Bando, a crypto analyst on X, still thinks SEI has what it takes to be the next Solana. His perspective centers on SEI’s speed in comparison with Solana.
Bando argues that SEI is the fastest blockchain in the industry, designed to handle high-frequency trades with minimal latency. Peak trading volumes do not affect its speed. He believes that this feature makes SEI perfect for meme coins and DeFi trading.
According to him, the only issue hindering the growth of SEI is that people have not noticed the blockchain yet, and when they do, it might receive the recognition and growth it deserves.
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