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<p>The cryptocurrency market has some bullish rallies today, with <a href="https://coinmarketcap.com/currencies/fantom/" target="_blank" rel="noopener noreferrer nofollow">Fantom (FTM)</a> and <a href="https://coinmarketcap.com/currencies/sei/" target="_blank" rel="noopener noreferrer nofollow">Sei Network (SEI) </a>emerging as two of the biggest gainers, spiking by over 25% and 20% respectively. Let’s delve into the potential catalysts behind these price surges.</p>
<h2 class="wp-block-heading" id="fantom-ftm-soars-on-bullish-momentum">Fantom (FTM) Soars on Bullish Momentum</h2>
<p>According to a<a href="https://www.tradingview.com/chart/FTMUSD/zThebf1m-FTM-breakout-Rally-Eyes-1-85/" target="_blank" rel="noopener noreferrer nofollow"> post on TradingView</a> by Coinpedia-Market-Insight, Fantom’s price has decisively broken above a key resistance trendline, signaling a robust bullish reversal. The 26% increase in the last 24 hours underscores strong buyer interest and a potential turnaround in sentiment.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="402" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-1024x402.png" alt="" class="wp-image-491692" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-1024x402.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-300x118.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-768x301.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-1536x602.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-2048x803.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-383x150.png 383w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-100x39.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-893x350.png 893w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452-788x309.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-452.png 1604w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The substantial overnight jump in Bitcoin has also catalyzed a broader altcoin sector recovery, benefiting Fantom significantly. With the current momentum, analysts suggest that FTM is well on its way to surpassing the $1 milestone shortly.</p>
<p>Additionally, the spike in trading volume supports the ongoing surge, indicating a solid bullish conviction among traders. The Relative Strength Index (RSI) nearing the 70% line showcases a dramatic increase in buying pressure and market enthusiasm.</p>
<p>By breaking above the 50-day Exponential Moving Average (EMA), Fantom has successfully averted a potential death cross, reinforcing the bullish outlook. The price is currently challenging the 23.60% Fibonacci level at $0.8194, with eyes set on further gains. If momentum continues, some analysts believe FTM could not only breach $1 but could aim for the $1.618 Fibonacci level at $1.85.</p>
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<h2 class="wp-block-heading" id="sei-network-sei-rallies-on-ecosystem-developments">Sei Network (SEI) Rallies on Ecosystem Developments</h2>
<p>The rally in Sei Network (SEI) has been fueled by various updates from the SEI team, aimed at enhancing the blockchain and attracting more participants to the project.</p>
<p>One <a href="https://twitter.com/SeiNetwork/status/1790404730964857114?t=84RXPN5TR-kuS0MmMogJ-w&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">significant development </a>is the integration of Ether.fi, a decentralized, non-custodial delegated staking protocol, as the first Liquid Restaking Token (LRT) in the Sei ecosystem. This move introduces new staking solutions to the Sei DeFi landscape, contributing to a more dynamic and decentralized ecosystem.</p>
<p>Furthermore, the Sei community rallied together to<a href="https://twitter.com/Sei_FND/status/1790097579163676828?t=gNeCRfxNdYp0ByjyhhJ27g&amp;s=19" target="_blank" rel="noopener noreferrer nofollow"> raise 8.5K SEI for Taiwan Earthquake Relief</a> through the largest NFT fundraiser in Sei history. This initiative showcased the community’s spirit and commitment to making a positive impact.</p>
<p><strong><em>Read Also:<a href="https://captainaltcoin.com/pepe-coin-ponke-maga-and-others-lead-the-pack-as-meme-coin-sector-surges-in-q2/" target="_blank" rel="noopener noreferrer nofollow"> PEPE Coin, PONKE, MAGA And Others Lead the Pack As Meme Coin Sector Surges in Q2</a></em></strong></p>
<p>The Sei Foundation has also announced plans to donate an additional 30 SEI for every “Proof of Gym” picture posted in the Sei Fitness Club chat (excluding cardio), with a total of 5k SEI up for donation. This effort aims to support vital relief efforts while promoting a healthy lifestyle within the community.</p>
<p>Looking ahead, the Sei team has <a href="https://twitter.com/SeiNetwork/status/1790760468900196623?t=Ff0Kwg3kQzTayuWswdNpYg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">outlined a three-phase plan</a> for the upcoming Sei v2 upgrade, which includes governance, stability and infrastructure deployment, and a live beta launch. These developments have likely contributed to the growing interest and optimism surrounding the Sei Network ecosystem.</p>
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<p>The post <a href="https://captainaltcoin.com/fantom-ftm-and-sei-network-crypto-prices-pumping-heres-why/" rel="noopener noreferrer nofollow">Fantom (FTM) and Sei Network Crypto Prices Pumping: Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Fantom (FTM) and Sei Network Crypto Prices Pumping: Here’s Why

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