Good news! SEI Coin Price Rises, What's Next?

Bittime - Over the past 24 hours, the SEI token price rose 10%, driven by anticipation for the Modular Summit event. With Open Interest (OI) reaching $59.44 million, traders are eyeing a potential price breakout at $0.28. Learn more about SEI's future bullish trend.

SEI Coin Price Increases

In the last 24 hours, the token of layer-1 project Sei Crypto (SEI), which uses a modular blockchain, increased by 10%. SEI was one of the highest gainers in the market at the time this news was published.

Nonetheless, there is a reason why the token is getting closer to the top. Specifically, the Modular Summit event will be held between July 11 and 13 and will involve modular blockchain building projects.

Interest In Crypto Assets Related To This Industry Is Increasing

As a result, interest in crypto assets related to this industry is increasing. After checking SEI's Open Interest (OI), which means the total number of open contracts in the market, AMBCrypto found the proof. Shows an increase in net positions and trader liquidity from a decrease showing an increase in closed positions. 

SEI crypto OI amount increased to $59.44 million, according to Coinglass. This indicates that traders are increasing their exposure to the token while seeking to benefit from price movements. 

SEI Is Bullish

When the token price reaches highs and lows, a descending channel pattern appears. This pattern usually results in lower token prices. AMBCrypto sees bullishness indicating seller exhaustion around $0.25. With increasing demand, the price may break the $0.28 resistance.

Conclusion

In the last 24 hours, the SEI token price increased by 10%. This shows the growing interest in modular blockchain projects. This increased interest is driven by anticipation of the Modular Summit event, which will take place from July 11-13. With SEI's Open Interest (OI) increasing to $59.44 million, traders hope to take advantage of the price movement.

Although a descending channel pattern usually indicates a price decline, seller exhaustion around $0.25 and increased demand suggest a potential breakout of resistance at $0.28. This shows that SEI has better opportunities in the future. To make informed investment decisions, stay alert to market developments and important events such as the Modular Summit.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.