- SEI price is consolidating around $0.35, with a breakout above $0.36 targeting $0.90.
- Key support levels for SEI price are $0.345 and $0.340, crucial for preventing a deeper pullback.
- MACD and RSI signals suggest short-term bearish momentum, but long-term bullish trend remains intact.
SEI price is on the verge of a potential breakout, with analysts predicting a possible 160% rally towards $0.90. The cryptocurrency is currently consolidating around $0.35, and while short-term bearish signs are present, the broader uptrend remains intact. Will SEI surge to new heights, or will it face further pullbacks? Here’s what the charts suggest.
Technical Analysis Shows Potential For SEI Price Breakout
SEI chart on a weekly timeframe reveals a descending triangle pattern, which traditionally signals a potential bearish continuation. However, the setup also presents an opportunity for a bullish breakout if the price moves beyond the triangle resistance. The current SEI price sits just above the support zone of $0.30, near the apex of the triangle, indicating consolidation.
The Fibonacci retracement levels drawn from recent highs to lows are key to understanding the potential resistance points. The 0.236 level sits at $0.90, with other levels like $0.382 and $0.637 acting as possible barriers for any upward movement According to Ali Chart.
A breakout above the triangle resistance could lead the SEI price to test these levels, with $0.90 being the target for a significant rally. However, failure to hold support at $0.30 may result in a downtrend toward $0.13.
Source: Ali Chart/X
While the overall trend remains bullish, the short-term momentum has cooled down. The moving average convergence divergence(MACD) has crossed below the signal line, suggesting bearish momentum. This is further confirmed by a negative histogram, although it is still near the zero line, indicating that the trend may not fully break.
The Relative Strength Index (RSI) has also dropped from the mid-60s to around 51, signaling a neutral to slightly bearish outlook in the short term.
Source: TradingView
Despite these signs of pullback, the broader trend remains upward unless the price falls decisively below $0.340. If the price breaks and holds above $0.352–$0.355, bulls may regain control, with a potential test of the resistance levels around $0.36 and $0.37.
