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<p><a href="https://captainaltcoin.com/sei-and-fantom-ftm-tokens-on-the-cusp-of-a-three-digit-price-surge-one-resistance-to-go/" target="_blank" rel="noopener noreferrer nofollow">Sei (SEI)</a> has seen a sharp price increase lately, driven by positive technical indicators and DeFi developments. The price of SEI is up 21.79% in the last day, <a href="https://www.coingecko.com/en/coins/sei" target="_blank" rel="noopener noreferrer nofollow">trading at $0.335,</a> with market activity pushing the trading volume to $312 million.&nbsp;</p>
<p>The upward movement comes after the confirmation of a falling wedge breakout and growing interest in SEI’s decentralized finance space, according to leading analysts.</p>
<h3 class="wp-block-heading" id="strong-sei-price-breakout-sparks-bullish-sentiment-strong"><strong>SEI Price Breakout Sparks Bullish Sentiment</strong></h3>
<p>Captain Faibik, a top crypto analyst, highlighted the technical breakout of SEI from a falling wedge pattern. This pattern is a common bullish reversal formation that signals a shift from a downward trend to an uptrend. Captain Faibik confirmed the breakout, predicting several midterm price targets.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SEI</a> Falling Wedge Upside Breakout is finally Confirmed..<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4cc.png" alt="📌" class="wp-smiley" style="height: 1em; max-height: 1em;"> Midterm Targets : 0.45 – 0.66 – 1.00<a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/SEI?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SEI</a> <a href="https://twitter.com/hashtag/SEIUSDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SEIUSDT</a> <a href="https://t.co/aj0GWepiNB" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/aj0GWepiNB</a></p>— Captain Faibik <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f43a.png" alt="🐺" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@CryptoFaibik) <a href="https://twitter.com/CryptoFaibik/status/1836632239745970378?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 19, 2024</a>
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<p>SEI’s breakout suggests that previous bearish trends may be over. The pattern, marked by two converging downward-sloping trendlines, was followed by an upward breach, which historically indicates a move towards higher prices.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-defi-growth-boosts-sei-s-appeal-strong"><strong>DeFi Growth Boosts SEI’s Appeal</strong></h3>
<p>In addition to technical factors, SEI’s growing presence in decentralized finance is contributing to its price surge. According to a tweet from Cooltimes, SEI’s DeFi ecosystem is heating up with the liquidity pool of a new decentralized exchange doubling in the past day.&nbsp;</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SEI</a> defi is heating up. <br><br>the liquidity pool of a new native <a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SEI</a> dex has 2x’ed in the last 24h <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>over $150,000 added so far. <br><br>the platform <a href="https://twitter.com/FilamentFinance?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@FilamentFinance</a> also recently received $1.2M in private funding to build on <a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SEI</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f534.png" alt="🔴" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>it’s starting to happen. <a href="https://t.co/4w8c9p3SSP" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/4w8c9p3SSP</a></p>— cooltimes <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9ca.png" alt="🧊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@cooItimes) <a href="https://twitter.com/cooItimes/status/1836443290326995101?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 18, 2024</a>
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<p>Over $150,000 has been added to this pool, further driving interest in SEI. Cooltimes also mentioned that Filament Finance, a platform building on SEI, recently raised $1.2 million in private funding.</p>
<p>The increased liquidity and financial backing signal growing confidence in SEI’s DeFi potential, adding further momentum to the token’s price.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/this-xrp-chart-looks-like-a-time-bomb-will-ripples-token-repeat-2017/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>This XRP Chart Looks Like a ‘Time Bomb’ – Will Ripple’s Token Repeat 2017?</em></strong><br></a></p>
<h3 class="wp-block-heading" id="strong-midterm-price-targets-and-market-outlook-strong"><strong>Midterm Price Targets and Market Outlook</strong></h3>
<p>The technical analysis provided by Captain Faibik indicates a potential midterm price rise for SEI, with the next targets at $0.45, $0.66, and $1.00. As traders continue to observe SEI’s upward momentum, these price points serve as key areas of interest.</p>
<p>As SEI’s technical breakout aligns with increasing <a href="https://www.thestreet.com/crypto/innovation/vitalik-buterin-defi-critic-or-power-user-a-deep-dive-into-his-on-chain-activity" target="_blank" rel="noopener noreferrer nofollow">DeFi activity</a>, investors are watching the token’s performance in both technical and fundamental aspects. The combination of a confirmed falling wedge breakout and growing DeFi interest has led to a positive market outlook for SEI in the near term.</p>
<p><em><strong>Follow us on&nbsp;<a href="https://x.com/CaptainAltcoin_" target="_blank" rel="noopener noreferrer nofollow">X (Twitter)</a>,&nbsp;<a href="https://coinmarketcap.com/community/profile/CaptainAltcoin/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap&nbsp;</a>and&nbsp;<a href="https://www.binance.com/en/square/profile/captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Binance Square</a>&nbsp;for more daily crypto updates.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
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<p>The post <a href="https://captainaltcoin.com/why-is-sei-price-up-2/" rel="noopener noreferrer nofollow">Why Is SEI Price Up?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why Is SEI Price Up?

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