Peter Smith
SEI is catching traders' eyes as it holds firm around a crucial support zone. The token has been consolidating for weeks, and with price action tightening and moving averages converging, many are wondering if this could be the calm before a significant move. The structure looks promising, but the real test lies ahead.
Technical Setup Shows Clear Structure
Analyst Tanaka noted that SEI has been holding the $0.28–$0.30 range for several weeks now. Looking at the chart, there's a pattern of higher lows forming along a rising trendline, which shows buyers are stepping in consistently.
The moving averages are bunching up near the current price, adding weight to the idea that this zone matters. If we see a daily close above $0.35, it could flip the script and open the door to stronger bullish action.
Key Levels Worth Watching
The chart gives us a pretty straightforward roadmap. On the upside, $0.35 is the first hurdle - breaking above it would suggest momentum is shifting. Beyond that, $0.475 comes into play as a short-term target if strength continues. Further out, the $0.68–$0.70 area represents major resistance where profit-taking could emerge. On the downside, $0.27 is the line that can't break. Losing that level would undermine the entire setup and likely trigger deeper selling.
Market Context
This defense of support is happening while altcoins are showing some backbone after Bitcoin's recent rally to new highs. SEI's ability to stay above its base while the trading range narrows hints at accumulation - basically, smart money might be quietly building positions. It suggests growing confidence, even if the broader market remains cautious.
Peter Smith
