As Donald Trump’s World Liberty Finance acquired the SEI token for the first time in its DeFi buying history, the SEI price skyrocketed. With an intraday surge of 11.06%, the DeFi token is presenting a double-bottom reversal.
Aiming to conclude the lower-high formation and start a new bullish trend, the SEI price has now reached the $0.25 psychological mark. Will this bullish continuation lead to a new swing high in SEI prices? Let’s find out.
Is SEI Ready for a Bullish Explosion?
In the daily price chart, the SEI price trend showcases a bearish reversal from the $0.70 mark to $0.21. Currently, the sideways trend near the $0.21 support level hints at a double-bottom reversal.
The intraday recovery of 11.25% creates a second consecutive bullish candle. Furthermore, the bullish engulfing candle breaks above the neckline at $0.24 and breaches the 20-day EMA line at $0.25199.
Currently, the SEI token trades at $0.25737. Supporting the double-bottom reversal, the daily RSI line reveals a bullish divergence. Furthermore, SEI’s trading volume has surged by over 80% in the past 24 hours, signaling strong investor interest and liquidity. This increases the chances of a sharp comeback in SEI prices.
Key Resistance & Support Levels: What’s Next?
Despite the short-term recovery, the prevailing downfall has resulted in a bearish alignment in the 50-, 100-, and 200-day EMA lines. Hence, the bull run is likely to face opposition from the dynamic average lines.
Furthermore, the Fibonacci levels paint the immediate resistance level at $0.286, near the 23.60% Fibonacci mark. In case the uptrend surpasses the 23.60% level, the bull run will likely face resistance at the 200-day EMA near the 50% Fibonacci level at $0.39165.
Trump’s Fund Joins SEI: What Does It Mean for the Market?
Recently, Donald Trump’s World Liberty Financial made its first-ever SEI purchase. In exchange for 125,000 USDC, the fund acquired nearly 548,000 SEI tokens.
This brings the total holdings of World Liberty Financial to $117.365 million. Despite its SEI acquisition, the fund’s largest holding remains Ethereum, worth $46.617 million. SEI’s price surge comes amid renewed interest in DeFi tokens, with analysts speculating major inflows following WLFI’s move.