SEI Network Experiences -13% Retracement After Price Surge
Sei Network (SEI), an open-source layer-1 blockchain, has seen a -13% retracement following a +20% surge in price. This has caused some traders to question if SEI is going to zero.
The initial price increase occurred as the market became bullish on Sei Network’s promise of providing developers with fast throughput that parallels EVM.
Traders Take Note of SEI’s Retracement
Traders are paying attention to the significant retracement of SEI, which has made it one of the top losers in the crypto market. The drop in price has led to concerns among traders.
SEI Price Analysis: Is SEI Headed Towards Zero?
Currently, SEI is trading at $0.33, representing a 24-hour change of -10.44%. The price was rejected at $0.41, resulting in a free-fall that broke through lower support levels at $0.36. It is expected that SEI will test the established lower support at $0.30.
The RSI has cooled off significantly, while the MACD indicates bullish divergence, suggesting that SEI is still on a bullish trajectory.
Meme Kombat Raises Over $4 Million in Presale
Meme Kombat is an innovative project that combines nostalgic gaming and GambleFi into a decentralized Web3 platform. The project allows users to place bets on animated battles between meme characters from different crypto communities.
Meme Kombat Pits Crypto Meme Communities Against Each Other
Meme Kombat offers excitement and transparency through AI-driven battles and a commitment to security audits. The project is led by Matt Whiteman, an experienced professional in the crypto space. The platform’s tokenomics and dual functionality of earning while gaming make it appealing to potential investors.
Hot Take: Sei and Meme Kombat Provide Unique Opportunities
While SEI may have experienced a retracement, it is not going to zero. The price analysis suggests that SEI still has potential for a rally continuation. On the other hand, Meme Kombat presents a unique opportunity for investors interested in meme-based gaming and betting. With its innovative approach and promising tokenomics, Meme Kombat is poised to tap into the growing GambleFi industry.
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