The Sei Price Approaching A Major Resistance Level

The Sei price rallied more than 20% in the last 24 hours to trade at $0.3386 as of 11:34 p.m. EST. This recent gain by the SEI price was enough to push its weekly performance back into the green with a 15% surge.

The Sei price experienced a surge of more than 20% in the last 24 hours to trade at $0.3386 as of 11:34 p.m. EST.

This recent gain was sufficient to push the SEI price into the green for the week with a 15% surge.

The Sei Price Approaching A Major Resistance Level

4-hour chart for SEI/USDT (Source: TradingView)

A bullish falling wedge pattern was validated on the 4-hour chart for the Sei price in the last few hours, resulting in the recent rally. Buyers stepped in as soon as the altcoin approached the $0.2520 support and pushed the crypto’s value above both the $0.2940 and $0.3193 resistance levels. Now, the Sei price is attempting to breach the $0.3501 barrier.

If SEI is able to close a 4-hour candle above $0.3501 in the next 12 hours, then the altcoin will likely continue to rally. However, a rejection from this point could prompt traders to start to take profit. In this alternative scenario, the Sei price might be at risk of dropping below the aforementioned $0.3193 and $0.2940 price points.

Bulls Have Full Control, But The Sei Price Is In Overbought Territory

From a technical perspective, indicators on SEI’s 4-hour chart show that buyers are in control and could keep pushing the crypto’s price higher in the coming 24 hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are showing positive signs.

In the last 24 hours, the MACD line crossed above the MACD Signal line to indicate that the Sei price has entered a positive trend. With the prior breaking away above the latter, it seems SEI’s positive momentum is growing stronger.

Meanwhile, the RSI line also crossed above its Simple Moving Average (SMA) line throughout the last day of trading. After the two lines intersected, the RSI surged from 34 to above 70. This suggests that buyers grew substantially stronger than sellers in the last few hours.

Traders and investors will, however, want to keep an eye on the RSI since high readings generally warn that a crypto is overbought and are subsequently seen as a sell signal. There have been occasions where RSI readings remain high for a sustained period of time. This usually happens when a crypto is pumping.

Given the fact that the Sei price is approaching the $0.3501 resistance level, there is a high probability that the current RSI readings could lead to a brief sell off.

While traders wait to see what SEI will do around the $0.3501 resistance, investors are flocking to the layer-2 meme coin Pepe Unchained (PEPU) for potential 100X gains.

A Framework For The Future Of Meme Coins

Pepe Unchained (PEPU) is on a mission to enhance the popular PEPE token. Through its layer-2 blockchain, the project will not only unlock substantially higher speeds, but will also make it much cheaper for PEPE lovers to send and receive crypto. Anyone will be able to gain access to this improved transactional experience by simply purchasing PEPU.

In the coming weeks, Pepe unchained will also open up its layer-2 capabilities to other meme coin projects to essentially serve as a launchpad for the next generation of tokens while also ushering existing meme coins into a new scalable era.

The team recently launched its Pepe Frens with Benefits campaign. With this initiative, Pepe Unchained will incentivize developers to build applications on its layer-2 network. Grant applications can now be submitted for funding. Each application will undergo a voting process within the Pepe Council.

The push to bring developers and applications to its ecosystem, combined with its meme coin appeal, puts Pepe Unchained in a unique position that could lead to substantial price gains.

A similar sentiment is shared by popular YouTuber ClayBro, who told his 130K subscribers in a recent video that Pepe Unchained has the potential to soar 100X.

Investors Bet Big On PEPU’s Future

Investors have caught on to Pepe Unchained’s potential to make a significant mark in the meme coin space, as evident by the $13.8 million the project has raised in its presale so far.

We're making rapid progress on the $PEPU token raise and Layer 2 Mainnet launch!

The Pepe Unchained developers have built something special, and we can’t wait to roll it out to the public. pic.twitter.com/NMDQ1ZRnmN

— Pepe Unchained (@pepe_unchained) September 18, 2024

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