- SEI climbs 60%, targeting $0.65, driven by bullish momentum and strong market interest.
- Liquidation risks rise as shorts face pressure and long positions could trigger liquidations.
- Key resistance at $0.5460, support at $0.4414, with volatility expected around liquidation clusters.
Sei (SEI) has seen an impressive 60% rise in the last two weeks. After a pullback to the 50% Fibonacci level, the coin has gained bullish momentum. Currently, SEI trades at $0.5264, marking a 14% increase in the past 24 hours. Trading volume stands at $783.84 million, and Total Value Locked (TVL) is at $207.32 million. Despite this growth, concerns about liquidation risks remain.
Bullish Breakout and Strong Trend
SEI’s price action reveals a clear upward trend. After forming a flagpole, the coin entered a consolidation phase in a downward-sloping channel. This pattern suggested the potential for a bullish move. Recently, SEI broke above the flag’s upper boundary, confirming fresh bullish momentum.
At $0.4600, SEI’s breakout point suggests a target of $0.65. This target comes from adding the flagpole height to the breakout level. If the breakout holds, SEI could reach $0.65, showing significant upside potential.
Resistance at $0.5460 and support around $0.4414 are key levels. The Alligator lines confirm that the market is trending, with SEI staying above these lines. The Supertrend is green, further supporting the bullish outlook as long as SEI remains above the trendline.
Liquidation Risks Rise
Despite the bullish outlook, liquidation risks are growing. Shorts are facing pressure as the price rises above $0.527. The short liquidation leverage (green) is increasing, signaling higher risks for short sellers. Meanwhile, long liquidation leverage (red) has dropped, suggesting greater risk for long positions if prices fall below this level.
Liquidation clusters are forming around $0.514 for long positions and $0.550 for shorts. A price move toward these levels could trigger massive liquidations, causing volatile market conditions. SEI’s price sits at a critical point. A breakout could pressure shorts, but a breakdown might trigger long liquidations.
For now, SEI’s rise to $0.65 shows promise, but liquidation risks are a real concern. The next price moves will be crucial in determining whether the bullish momentum can continue.
The post SEI Climbs 60% to $0.65, But Liquidation Concerns Persist appeared first on Crypto News Land.
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