- SEI Coin shows an upward trend, potentially testing a resistance of $0.21.
- RUNE Coin could target a resistance of $1.9 if it manages to close above $1.5.
- At the time of writing, Bitcoin price was at $26,000, a level expected to prevent further decline.
Investors see the current dip in Bitcoin price as a buying opportunity, despite the weak interest. These prices could yield profits. The daily volume in the cryptocurrency market has once again surpassed $70 billion, requiring the liquidation of over $700 million in futures positions. With volatility returning, investors could reenter the market if the volume remains strong.
SEI Coin Price Analysis
SEI Coin experienced a significant surge on August 15. Following its listing on the Binance exchange, the price immediately hit an all-time high of $0.48. However, it has been declining since then, following a decreasing resistance line since August 16. While initial token listings can see major price fluctuations, it usually takes a few days for the price to stabilize.
On August 18, SEI made a leap and broke out from the resistance line. However, it has yet to initiate any upward movement. Those who received the airdrop are not satisfied, suggesting that the supply ready for quick sale may not be as threatening. If the SEI price moves upwards, it could surpass the $0.21 resistance with a 35% increase. However, if the BTC price continues to decline and the SEI Coin price follows suit, we could see a 37% loss, dropping to $0.1.
THORChain (RUNE) Price Analysis
The RUNE price has been moving upward since June 14. The altcoin’s price accelerated its increase after making a higher low on July 30. On August 12, RUNE broke out from the downward resistance line that had been in place since the beginning of February. Currently, RUNE is trading inside the $1.50 horizontal resistance area. Whether it breaks or gets rejected will be crucial in determining the future trend. Here too, the possibility of a breakout seems more dominant if BTC allows.
If the optimistic scenario plays out, it could test the next resistance at $1.90 with a 33% increase. In a negative scenario, a 19% drop to the $1.2 region would not be surprising.
Conclusion
Despite the current volatility in the cryptocurrency market, there are potential opportunities for profit. SEI Coin and RUNE Coin both show potential for upward movement, depending on market conditions. However, as always, investors should do their own research and consider the risks before making any investment decisions.
