SEI Price Prediction 2024: SEI Price Analysis
What's next for SEI?
Key Takeaways
- The Sei price has decreased since its all-time high price on March 16.
- SEI announced a three-phase V2 upgrade plan on May 15.
- Our price predictions suggest SEI will reach a bottom soon.
SEI was launched in August 2023. In November, it announced it would integrate with Circle’s USD Coin (USDC) stablecoin. Since its launch, Sei has quickly gained steam thanks to its focus on speed and low transaction costs.
It rolled out a new upgrade in May 2024 called Sei V2. According to Sei’s official blog , the upgrade will be implemented in three stages: governance, Alpha release, and V2 readiness. The news came after the platform announced it would be going carbon neutral.
Sei Labs engineers will initiate the governance approval process through on-chain proposals in the governance phase. If approved, validators will upgrade the node software, and the existing Sei Pacific-1 mainnet will be updated to ‘V2’.
The Alpha release phase will focus on ensuring the chain’s stability and deploying third-party infrastructure, such as RPC nodes, cross-chain bridges, indexers, and multi-signature tools.
Sei Labs will monitor and report on the chain’s stability throughout this phase. Notably, the upgrade will unaffected functions of existing applications and tokens.
On Aug. 14, 2024, SEI exchanged hands for $0.40.
Let’s examine our price predictions for SEI, made on Aug. 14, 2024. We will also examine the SEI price history and discuss what SEI is and does.
Sei Price Prediction
Our SEI crypto price predictions use two methods: fractals (mirroring movements and indicator readings) and the wave count.
The mean of the two predictions gives the average SEI crypto price prediction. The more bullish prediction is used for the maximum price prediction, while the more bearish prediction is for the minimum.
| Minimum SEI Price Prediction | Average SEI Price Prediction | Maximum SEI Price Prediction | |
|---|---|---|---|
| 2024 | $1 | $2.05 | $3.10 |
| 2025 | $0.55 | $0.88 | $1.10 |
| 2030 | $1.28 | $1.60 | $1.92 |
Fractal Method
In October 2023, SEI’s daily RSI fell to oversold territory for the first time in history (green circle). Shortly afterward, the SEI price broke out from a 66-day descending resistance trend line, causing the RSI to increase above 50.
This catalyzed a 1,100% upward movement lasting 149 days, culminating with a new all-time high in March 2024.
In August 2024, the daily RSI fell to oversold territory. It then started an upward movement, which took it close to a descending resistance trend line that existed for 151 days.
The daily RSI has almost moved above 50 (green icon). Therefore, the movement in 2024 is assumed to be 2.3 times as long as the one in 2023.
Projecting a 1,100% increase lasting 340 days leads to a new all-time high of $2.49 in July 2025. During the upward movement and ensuing correction, the fractal method gives an SEI price prediction of $1 and $1.10 at the end of 2024 and 2025, respectively.
Wave Count Method
The wave count suggests that SEI started a five-wave increase in November 2023. After the all-time high, it completed an A-B-C corrective structure.
If the correction is over, the ensuing upward movement may have 1.61 times the length and duration of the previous one. If this is the case, SEI will reach a new all-time high of $3.93 in April 2025.
Projecting a similar rate of increase and decrease as the upward movement and the correction leads to a SEI price prediction of $3.10 and $0.55 at the end of 2024 and 2025, respectively.
Finally, we use the rate of increase since launch to determine the SEI price prediction for the end of 2030. In the 367 days since its launch, SEI has increased by 60%, for a rate of increase of 0.17% per day.
Projecting this rate of increase until the end of 2030 leads to a target of $1.60. Adding and removing 20% to this target gives our maximum and minimum SEI price predictions.
SEI Price Prediction for 2024
Our fractal and wave count SEI price predictions lead to different targets for the end of 2024, even though both suggest the price will increase toward an all-time high.
The reason for the discrepancy is the vastly different predicted all-time high price, which changes the rate of increase. More specifically, the fractal and wave count methods give SEI price predictions of $3.10 and $1, respectively.
Sei Price Prediction for 2025
Our fractal and wave count SEI crypto price predictions lead to similar targets for the end of 2025. Both suggest that SEI will have reached its all-time high and be mired in a correction. They give targets of $0.55 and $1.10, respectively.
Sei Price Prediction for 2030
We use the rate of increase to predict the SEI coin price at the end of 2030, arriving at a range of $1.28 and $1.92.
SEI Price Analysis
The daily SEI chart shows a double-bottom pattern with two long lower wicks (white). The pattern caused a reclaim of a horizontal support area and was combined with a bullish divergence in the MACD (green).
While the RSI did not generate a bullish divergence, it moved outside its oversold territory and is increasing above 50.
SEI must break out from its resistance trend line to confirm the pattern. The trend line has existed for 152 days, and a breakout from it will also cause the RSI to increase above 50.
If the price of SEI breaks out, the next closest resistance will be at $0.46.
Short-Term SEI Price Prediction
The SEI price prediction for the next 24 hours depends on the assumption that the price will reach the resistance trend line and eventually break out. If a similar rate of increase follows, SEI will reach the trend line by the end of the week.
After a common initial rejection, the price can climb to the $0.46 resistance area sometime next week. Then, a potential breakout can take SEI toward $0.38 by the end of the week, completing a short-term five-wave increase.
SEI Average True Range
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Aug. 14, SEI’s daily ATR is at 0.03, implying low volatility. It has fallen since its all-time high of 0.125 in March. As a proportion of the $0.33 SEI price, the ATR is 0.107.
SEI Market Cap to TVL Ratio
The Total Value Locked (TVL) to market cap ratio measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts. This ratio shows the project’s utilization and links the platform’s health to locked asset value.
A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets.
On Aug. 14, 2024, the SEI Market Cap to TVL ratio was 2.4, indicating overvaluation.
SEI Relative Strength Index (RSI): Is SEI Oversold or Undersold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.
Movements above 70 and 30 show overbought and oversold conditions, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Aug. 14, SEI’s daily RSI was at 47, showing a bearish trend. However, the indicator trends upward and recently moved outside of its oversold territory, both seen as signs of a bullish trend.
SEI Price Performance Comparisons
SEI is a Layer-1 blockchain, so let’s compare it with other projects with a similar market cap in the same category.
Best Days and Months to Buy SEI
We looked at the SEI price history and found the times when the price was at its lowest across certain days, months, quarters, and even weeks in the year, indicating the best times to buy SEI. We also saw when the price was at its highest, suggesting the worst time to buy SEI.
| Times to buy SEI | Days, Months, Weeks and quarters |
|---|---|
| Best Day | Monday |
| Best Week | 52 |
| Best Month | December |
| Best Quarter | Q4 |
SEI Price History
Now, let’s examine the Sei price history. While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide useful context if we want to make or interpret a Sei price prediction.
SEI first came onto the open market on Aug. 15, 2023, when it was worth about $0.0079. It rose steadily, breaking past $0.20 the same day before closing at $0.1776. SEI then increased further, hitting an all-time high of $0.273 on Aug. 16, 2023.
However, the price has fallen since then, culminating with a new all-time low of $0.119 on Aug. 29, 2023.
In December, the coin rallied. On Dec. 31, it reached a high of $0.630 before dropping down to close the year at $0.563. In 2024, the coin shot up at first, reaching an all-time high of $0.875 on Jan. 3. Since then, though, it has dropped considerably, falling to a low of $0.20 in August.
| Period | Sei Price |
|---|---|
| Today (Aug. 14, 2024) | $0.29 |
| Last Week (Aug. 7, 2024) | $0.25 |
| Last Month (July 14, 2024) | $0.35 |
| Three Months Ago (May 14, 2024) | $0.55 |
| Last Year (Aug. 14, 2023) | NA |
| Launch price (Aug. 16, 2023) | $0.18 |
| All-time high (March 16, 2024) | $1.12 |
| All-time low (Oct.19, 2023) | $0.09 |
SEI Market Cap
The market capitalization, or market cap, is the sum of the total number of SEI in circulation multiplied by its price. On Aug. 14, 2024, SEI’s market cap was $909 million, making it the 80th-largest crypto by that metric.
SEI Supply and Distribution
| Supply and Distribution | Figure |
|---|---|
| Maximum Supply | 1,000,000,000 |
| Circulating Supply | 3,175,000,000 (31.75% of Maximum Supply) |
From the SEI Whitepaper
In its technical documentation or whitepaper , Sei says it aims to make trading easier.
It says, “Sei is a general-purpose, open-source Layer 1 blockchain specialized for the exchange of digital assets. Leveraging a novel consensus and technical breakthroughs, Sei is the fastest blockchain in the industry.”
Sei (SEI) Explained
Crypto exchanges are one of the most important concepts in the crypto sphere. Since cryptocurrency has no intrinsic value, having a place where coins and tokens can be bought and sold helps set prices.
While traditional, centralized exchanges (CEXes) like Crypto.com (CRO) dominate the market, they are not the only option for someone who wants to buy, sell, or trade crypto. Decentralized exchanges (DEXes), like Uniswap (UNI), are designed to allow people to choose whichever cryptos they want to deal with and are backed by liquidity pools.
However, DEXes are not without their flaws. One potential drawback is that, often, decentralized exchanges can only deal with tokens that exist on their native blockchain.
Sei is a blockchain designed to deal with that. Launched in the summer of 2023, the platform is supposed to allow people to trade crypto assets easily in the same place. Sei aims to be the fastest blockchain around. The SEI coin powers the platform.
How Sei Works
The Sei blockchain promises transaction speeds of as little as 250 milliseconds. It uses a Proof-of-Stake (PoS) consensus mechanism to process transactions and add blocks to the blockchain. SEI holders add blocks to the blockchain based on how many coins they hold.
People who hold SEI can buy, sell, and trade it on exchanges.
Is Sei a Good Investment?
It is, perhaps, a little too early to say. Keep in mind that SEI has only been trading since August 2023. This means we don’t know how well, or how badly, it will respond to market moves.
We also don’t know whether it will be able to gain any traction. Maybe the V2 upgrade will boost the sentiment on the coin.
As always with crypto, you should do your research before deciding whether or not to invest in SEI.
Will Sei go up or down?
No one can tell right now. While the Sei crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind that prices can and do go down and up.
Should I invest in Sei?
Before you decide whether or not to invest in Sei, you will have to do your research, not only on SEI but on other related coins and tokens such as Sui (SUI) or Cosmos (ATOM). You must also ensure you never invest more money than you can afford to lose.
FAQs
Our price predictions suggest SEI will not reach $10 in the near future. The SEI coin supports the Sei blockchain. People can also buy, sell, and trade SEI on exchanges.Will Sei reach $10?
What is Sei used for?
