SEI price has spent the past few months in a steady dowrend, printing the same as the lower highs and lower lows. After reaching a bottom near $ 0.13 in mid -April, the price broke and now trading around $ 0.2167. It approaches a basic technical level that can determine whether this rally continues or decreases.
Entrepreneurs are closely watching this setup, especially as SEI results in a former strong resistance zone and breaks from a long-term downward. Here is a breakdown of the current sei chart structure and if it could be the right time to consider investment.
Sei price destroys a long -term dowrend with momentum
Since November 2024, SEI has been moving within a specified bearish structure, which has been capped by a multi-touch decreasing pace. This trendline rejected many rallies, creating clear resistance points. The latest attempt, however, broke through the course of the sixth trial, showing the ongoing power of purchase.
This breakout comes next to a move above the 50-day Simple Moving Average (SMA), now holding close to $ 0.1836. The price of SEI trades above this level, the sign that short-term sentiment can move in favor of bulls. The 200-day SMA, sitting around $ 0.3518, is still above and is likely to act as a long-term resistance.
SEI price support between $ 0.13- $ 0.14 has proven strong
The recent bounce began from a well -established support zone around $ 0.13 to $ 0.14. This area was held with many sellers-offs and consumed consumers again in April. The higher low formed at this level is marked by a break in the previous bearish market structure.
Since then, SEI's price has printed a higher, proving a potential return. Businessmen will watch how the price works if it pulls towards the $ 0.19- $ 0.20 range. Handling in the upper zone will support the case for continuity.
Additionally, SEI tries to the $ 0.22- $ 0.23 range, which acts as a level of resistance in February. A day -to -day -day -to -top range can open the door to higher targets between $ 0.26 and $ 0.30. Furthermore, the 200-day SMA close to $ 0.35 could play.
Until this zone is broken with a strong volume, some merchants may remain careful. However, repetitive resistance tests often reduce its strength, and momentum begins to build.
So, should you put $ 1,000 in SEI token?
SEI price is broken into a multi-month downtrend and flipped a short-term structure with a bullish formation. The breakout above the trendline and the 50-day SMA suggests a growing consumer strength.
However, the level of $ 0.23 remains seamless and will be a decision for many traders. A close above it, with a prolonged volume, can attract more attention and potential to prove a greater recurrence. On the flip side, the failure to hold $ 0.19 on a pullback can slow the momentum. Until then, SEI remains in a technical crossroads.
Follow us at X (twitter), CoinMarketCap and Binance Square For more sunny crypto updates.
Read our recent updates to the crypto market, news, and technical analysis here.
We recommend ethoro
Actively featured user and social communities such as news feeds, chats for specific coins available for trading.
Wide range of properties: cryptocurrencies next to other investment products such as stocks and ETFs.
Copy Copy: Allows users to copy the trading of top traders, for free.
User-friendly: ETORO-based web and mobile app platform is easy to use and easy to navigate.
