SEI Could Increase Significantly, Reaching $2: Analyst

• Crypto analyst forecasts SEI to experience a significant increase, reaching $2.
• According to the analyst, SOL’s bullish reversal indicates potential for reaching $150.
• Sei’s TVL surges by 90%, outperforming Ethereum and Solana.

In a recent analysis, a cryptocurrency expert known as Bluntz shared insights on X, sparking discussions about the future of certain altcoins. Bluntz turned the spotlight on Sei, a layer-1 blockchain, suggesting its native token, SEI, could significantly increase in value.

According to the analysis, SEI could experience a significant increase from its present value, suggesting it may reach the $2 mark.

Bluntz’s prediction is rooted in detailed technical analysis, employing the Elliott Wave theory to chart SEI’s course. This theory, which posits that asset prices move in predictable wave patterns, suggests SEI’s uptrend is far from over. The analysis indicates that SEI, currently trading at $0.983, has broken out of a descending trendline, hinting at continued upward momentum. 

Moreover, the analysis extends beyond Sei, with Bluntz also forecasting a positive trajectory for Solana. The prediction suggests an increase in SOL’s value, potentially reaching $150. This optimism is based on the formation of successive higher lows in the SOL/BTC pair, signaling a bullish reversal. At press time, SOL was trading at $111.97, indicating a 2.77% decrease in the past 24 hours.

Additionally, Coin Edition earlier reported that Sei and Sui have experienced significant growth despite a general downtrend. Sei’s total value locked (TVL) surged by 90%, reaching $18.02 million. This growth contrasts with the more modest increases seen in Ethereum and Solana’s TVLs, which rose by less than 30%.