Eseandre Mordi
SEI has hit a crucial technical junction, and traders are debating whether we're about to see a turnaround. The coin is testing a support level that's held strong for over a year, and what happens next could set the tone for the coming weeks.
SEI Price Finds Support
Trader Mister Crypto recently pointed out that SEI might've already hit rock bottom, suggesting a potential major reversal could be brewing.
The chart shows the coin touching a long-term rising trendline that's been holding up as support since late 2023. This isn't just any support - it's where buyers have consistently stepped in before. SEI's been forming a descending triangle, with price getting squeezed between falling highs and this steady upward trendline. The latest candle bounced right off this support, hinting that buyers might be ready to defend this zone.
Chart Analysis: Key Levels to Watch
Here's what the technical picture looks like: support sits around $0.18–$0.20 where that ascending trendline currently runs, while resistance near $0.35–$0.40 marks the downward sloping line bulls need to break through. The pattern forming is a symmetrical triangle, which usually leads to a sharp move once price breaks out. Volume's picked up a bit near support too, which could mean accumulation is happening. If buyers keep this energy going, SEI might push toward those upper resistance levels soon.
What's Driving SEI?
The altcoin market's been all over the place lately, with investors hunting for undervalued plays. SEI's ecosystem is evolving, and retail traders are starting to pay more attention. If the broader crypto market stays relatively healthy, these factors could help fuel a comeback.
Eseandre Mordi
