Top analyst CryptoFeras has drawn attention to SEI, forecasting a massive rally by the end of the year. The analyst shared on X (Formerly Twitter) that SEI has the potential to mimic SUI’s explosive price run, citing robust technical formations and resistance levels being “claimed one by one.” The analysis sets an ambitious target of $1 by December 2024 and a further rally to $2–$3 by March 2025.

Moreover, SEI is making moves in the market today. SEI’s price has pumped 16.71% over the past day, positioning itself as one of the top performers. It’s trading volume has also surged by 162.69%, suggesting strong investor interest and active trading in the SEI token.

The chart analysis corroborates these predictions, showing a strong upward trend bolstered by bullish technical indicators. SEI has demonstrated resilience, breaking out from a descending wedge and surpassing key resistance levels. The rally appears to be gaining momentum as SEI navigates through marked resistance zones.

Read Also: Why Are Decentraland (MANA) and Sandbox (SAND) Prices Pumping? Tokens Could Dip Over 60% Again

The SEI chart showcases a robust technical setup, starting with an inverse head-and-shoulders pattern forming near $0.22. This pattern signals a bullish reversal, followed by a breakout through a descending wedge. The breakout near $0.42 solidified a support level, flipping previous resistance into a foundation for further price advances.

Immediate resistance has been identified at $0.68, with additional levels at $0.82, $1.00, $1.40, $2.00, and $3.00. These levels are projected to be approached methodically as SEI maintains its bullish trajectory. Fibonacci extension levels further validate these targets, particularly the psychological milestone of $1.

In the tweet, CryptoFeras likens SEI’s price movement of late to SUI’s recent “monster run.” SUI’s rapid climb established a precedent for similar tokens under comparable market conditions. The reference highlights SEI’s potential to replicate such a performance, fueled by strong momentum and an optimistic sentiment within the crypto community.

This comparison underlines SEI’s position as a token with growing interest and potential, driven by technical and psychological factors.

Finally, short-term projections place SEI’s price at $1 by the end of the year, supported by its current trajectory and the alignment of bullish indicators. Medium-term targets of $2–$3 by March reflect continued momentum if SEI can break through subsequent resistance levels.

Read Also: Ripple Whales Go on Buying Spree as XRP Price Pumps

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The post Market Analyst Claims SEI is Printing – Could SEI Price Hit $1 Before Year-End? appeared first on CaptainAltcoin.

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