Usman Salis
SEI has caught traders' attention after breaking free from months of sideways price action. The token pushed through a falling wedge pattern—a chart formation that typically signals the start of strong upward moves.
Technical Setup
Analyst Bitcoinsensus suggests this breakout could send SEI toward the $3 mark, a psychologically important level that many are now watching. The weekly chart tells a clear story: SEI formed a falling wedge during its consolidation phase, then broke out not once, but twice. The first breakout happened around $0.67, marking the end of the downtrend. The second came above $1.40, which kicked off a sharper rally that's now pushed prices past $2.90. What's interesting is the macro bull flag that's appeared on the chart—this pattern suggests the uptrend still has room to run. The $3.00 level is acting as immediate resistance, with the next targets sitting between $3.10 and $3.20 if buyers keep control.
Why It's Moving
The technicals look good, but there's more to the story. SEI is getting attention as a scalable Layer 1 blockchain project with serious growth potential. The broader altcoin market has also come alive recently, bringing new money into tokens like SEI. This combination of solid fundamentals and renewed market interest is helping fuel the current rally.
Right now, $2.93 to $3.00 is where SEI faces its toughest test. Break through that, and $3.10-$3.20 comes into play. On the downside, the two breakout levels at $1.40 and $0.67 are critical support zones. As long as SEI stays above $1.40, the bullish case stays intact. Drop below that, and the outlook would need reassessment.
Usman Salis
