FxWirePro- SEIUSD (Chart of the day)

Sei is the fastest Layer 1 blockchain, designed to scale with the industry.it is specialized for the exchange of digital assets. It is the first parallelized EVM.  Parallelization lets you process multiple things at the same time (i.e. in parallel).

SEI bears have been liquidated in the past 48 hours, over $550K worth of short positions were liquidated on SEI. Funding rates also sharply decreased to 0.516%.

Recent News-

New ATH in daily active users and TVL with relentless growth over the past 6 months.

Sei Creator Fund Rounds 3 & 4 announced with $500K in funding to support developers and gaming creators.

New deployments:

Super Seiyan ETH ($ssETH) is live on Sei—mint now and unlocks new ETH yield opportunities.

seiyanETH ($sETH), Sei’s native ETH LST delivering DeFi’s highest ETH staking yield.

SEIUSD performed well in the past two days.

Any daily close above $0.50 confirms further bullishness.

SEIUSD gained more than 81% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and below the long-term moving average. It hit a high of $0.4753 and is currently trading around $0.4499.

The bullish invalidation can happen if the pair closes below $0.10. On the lower side, the near-term support is $0.35. Any break below target $0.20/$0.10.

The immediate resistance stands at around $0.50. Any breach above confirms bullish continuation. A jump to $0.55 (161.8% fib)/$0.6850 is possible. A surge past $0.76 will take it to $1.

It is good to buy on dips around $0.40 with SL around $0.20 for TP of $0.75/$1.