Michaël van de Poppe sees a bullish divergence on $SEI, which resulted in a 2X increase.

Michaël van de Poppe sees a bullish divergence on $SEI, which resulted in a 2X increase.

SEI token has seen a remarkable surge, with a 8.9% increase in the past 24 hours, pushing its price to $0.3070 [1]. Trading volume has doubled to $219.1 million, reflecting renewed investor interest. This surge has propelled SEI to reclaim its position as the leading EVM-compatible blockchain, surpassing rivals Base and opBNB in weekly active wallets [1]. The token's high-speed architecture and low-latency design are key factors behind this dominance.

Derivatives activity has also shown significant promise, with volume increasing by 89% and open interest climbing by 13.4%. This suggests that smart money is positioning for a potential breakout towards the $0.50 resistance level [1]. Meanwhile, smart investors are shifting capital towards Mutuum Finance (MUTM), an altcoin demonstrating strong presale momentum and tangible utility within decentralized finance.

SEI's price action reveals bullish technical signals. The token has bounced off the critical 100-day Exponential Moving Average support near $0.292, and the Relative Strength Index (RSI) stands at 50.20, indicating a neutral but upward trend. The Moving Average Convergence Divergence (MACD) indicator points towards a potential bullish crossover [1].

On the other hand, insider activity has been notable. Michael Peterson, Executive Vice President at SEI Investments SEIC, sold 684 shares worth $60,663. While this could indicate a bearish view, it might also be due to other factors. Insider transactions provide valuable insights but should be considered alongside other factors when making investment decisions [2].

SEI Investments, which provides investment processing, management, and operations services, reported a revenue growth rate of 7.83% over the past three months. The company's earnings per share (EPS) are notably higher than the industry average, and its debt-to-equity ratio is below industry norms, indicating a sound financial structure [2].

In conclusion, SEI token's surge and derivatives activity suggest a bullish trend. However, insider selling and the volatile nature of the crypto market should be considered. Investors should stay informed and make decisions based on their risk tolerance and investment goals.

References:

[1] https://techbullion.com/sei-sei-reclaims-evm-crown-targets-0-50-resistance-but-here-is-the-altcoin-smart-investors-are-focused-on/
[2] https://www.benzinga.com/insights/news/25/08/46967411/insider-decision-michael-peterson-offloads-60k-worth-of-sei-investments-stock