Cryptocurrency markets have turned bullish recently thanks to interest rate cuts from the Federal Reserve and expectations for a strong fourth quarter. Among the outperforming tokens, first-tier tokens such as Sei (SEI), Sui (SUI), and Fantom (FTM) have all seen significant growth, with Sei (SEI) standing out in particular.

Sei is a highly scalable, layer-one blockchain designed specifically for decentralized applications (dApps). Today alone, Sei has surged 24.95% and is up 64% over the past seven days. SEI started to rise after breaking out of a downtrend and broke through the critical resistance level of $0.3097 on September 19.

As of now, SEI is trading at $0.4561, ranging between $0.4552 and $0.4764. If SEI breaks above $0.4764, it could target the next major resistance at $0.5485, which would imply a 20% upside from current levels. The key support to watch is $0.4552, which would act as a solid support if SEI retraces after breaking above this level.

The ongoing rally is supported by rising transaction volumes and the growing popularity of the layer-one ecosystem, further fueling market optimism.

Given the positive market conditions in the fourth quarter, SEI may continue to rise. However, investors should pay close attention to key price levels and broader market conditions to determine its future direction.

The article is for reference only and does not constitute investment advice.