The resurgence of Bitcoin
$96,893 has significantly stirred the crypto market. Bitcoin’s ascent above $95,000 not only invigorated its own valuation but also injected momentum into the altcoin market. Notably, Solana
$151 broke through the $150 mark, igniting a renewed risk appetite within the crypto ecosystem. This momentum positively influenced the upward trajectory of altcoins like Sui (SUI) and Sei (SEI).
SUI’s Promising Rise Captures Attention
SUI has emerged as a closely watched altcoin. Its impressive 60% leap over the past two weeks has captured market attention. Analysts highlight that its breakout from a long-standing sideways band with a bull flag pattern signals the start of an upward trend.
The daily chart shows the 50-day moving average cutting upwards, indicating a potential Golden Cross signal. Although buying volume has slightly declined, the overall positive market sentiment keeps investors focused on the $4 resistance level.
A strong breakthrough of this psychological $4 threshold might pave the way toward a $7 target. Despite limited profit-taking, hopes are high that the altcoin might hit $10 within the year. However, a possible MACD “sell” signal could indicate a short-term bearish correction, considered more of a “healthy pause” than a major downturn.
SEI Coin Poised for a New Chapter
An exciting phase has also begun for SEI. After gaining solid support from the $0.14 mark at the end of April, it started to recover. Its breakout from the Gaussian Channel was crucial for investors, indicating the end of the downtrend. The CMF indicator confirming new capital inflow by rising above zero supports this notion, showcasing the rise as not merely speculative.
Current indications suggest that the price could swiftly reach the $0.32 to $0.40 range. Sustaining above this band would set $0.48 to $0.50 as the new resistance. Overcoming this level might trigger cascading buy orders for SEI. As investor sentiment recovers, they are increasingly curious whether SEI could hit $1. With the market sentiment favoring bulls, SEI’s chances of reaching new records look promising.
