Peter Smith
After weeks of bleeding, SEI ($SEI) is finally showing a pulse. The token just bounced off a support zone that's held multiple times before, and traders are starting to pay attention. This isn't just another dead cat bounce - the setup suggests something more substantial might be brewing.
The Technical Picture
In a recent post, @iWantCoinNews highlighted the possibility of a "promising bounce," with sentiment across crypto circles pointing toward renewed bullish momentum.SEI is holding above $0.27-$0.28 on the daily chart, and this zone keeps proving its worth as a launching pad. The price action is forming what looks like a rounding bottom - the kind of pattern that often precedes meaningful reversals. If buyers keep showing up, the first real test comes at $0.35-$0.40, with heavier resistance waiting around $0.50. Clear those, and suddenly that $1 target doesn't look so crazy anymore.
The chart tells a pretty clear story: this support level has been tested over and over, and each time buyers have stepped in. That's not an accident. Meanwhile, Bitcoin's sideways grind is pushing capital into alts, and SEI's getting its share of attention. The Sei blockchain itself is seeing more activity, which gives bulls something fundamental to hang their hats on beyond just chart patterns.
The Reality Check
Look, getting to $1 isn't going to happen overnight. It needs real volume, not just hopium and leverage. Each resistance level has to actually break, not just get touched and rejected. But here's the thing - the foundation is holding, and that matters. When support keeps working, it builds confidence. When confidence builds, volume follows.
SEI defended the line in the sand, and now bulls have something to work with. The $0.50 level is the next meaningful hurdle, but if momentum stays intact, that $1 target remains in play. Not guaranteed, not imminent, but definitely possible.
Peter Smith
