- SEI price tests crucial $0.35 support following consolidation with a breakout above indicative of potential gains.
- The failure to retain the support of the $0.35 might drive the SEI price further down to lower values of around the $0.25-$0.28 range.
- SEI price is at a make or break point with $0.35 as the point of importance; if break out could attract resistance at $0.45–$0.47.
SEI price struggles to hold a critical support area at $0.35 in a symmetrical triangle formation following consolidation. This critical level may produce the direction of SEI price in the future-a break above could be bullish. However, a drop would occur with failure to support it, resulting in a fall to lower levels. These are tight price ranges that traders are keenly observing to determine the future direction of SEI price in the near future.
Technical Analysis of SEI Price and Key Support Levels
The price of Sei is in the process of consolidation following a long bearish period taking the form of an ascending triangle with a significant resistance value at $0.30 -$0.33, according to CryptoBheem. A move above this level would be bullish, and targets would be seen at the $0.45-$0.47 supply zone and potentially as high as the $0.60-$0.63 supply zone. To confirm, traders should look at increased volume and a successful retest of the breakout level.
Source:Â CryptoBheem/X
Conversely, in the event SEI price does not rally above the $0.33 mark, the downtrend might continue, with the price retracing to the $0.19-$0.22 level. A decline below this range would retest the check at $0.15 and signal additional losses. The response at $0.30-$0.33 will play a key role in whether the market will assume a bullish trend or continue the bearish trend.
However, SEI price failure to sustain above $0.35 may lead to adverse momentum, with the next support levels being priced at $0.250 and $0.280 respectively. A fall below these levels may result in additional downside towards testing the zone of $0.20. Analyst @ali_charts highlights this outlook.
Source:Â Ali charts/X
Traders must pay close attention to price action and volume during this consolidation period. As long as SEI price trades above the $0.35 mark, the outlook will remain bullish. But should there ever be a significant decline in sustaining this level, it may be an indication of even greater declines, and thus an increased possibility of more downward movement.
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