SEI Breaks $0.35 Resistance, Surges 8.67% as Bullish Reversal Gains Momentum

SEI, a Layer 1 blockchain cryptocurrency designed for trading and DeFi applications, has demonstrated a notable breakout on both weekly and daily charts, raising questions about a potential bullish reversal. The asset surged past the key $0.35 resistance level, trading at $0.3493 as of the latest update, with sustained support observed at this level. This move follows months of sideways consolidation, marking a critical shift in market dynamics [1].

The price action reveals a robust increase in trading volume, reaching 20.32 million, which underscores the strength of the recent breakout [1]. On a daily basis, SEI’s price has consolidated below $0.40, forming higher lows that suggest a possible upward trajectory toward the $0.50–$1.00 range [1]. Over the past month, the token has gained 8.67%, rising from $0.3052 to $0.3386 at the time of reporting. This rebound followed a sharp mid-month decline, highlighting the resilience of buyers amid volatility [1].

According to analysis by Crypto Catalyst, the weekly chart confirms a reversal in SEI’s trend. After months of being capped by the $0.35 resistance, the token has now stabilized above this threshold, with higher weekly closes forming in sequence. The analyst notes that this pattern, combined with increased volume, signals a structural change in momentum. Price targets have been set at $0.80 and $1.00 by 2026, contingent on maintaining current bullish momentum [1].

Tiko’s observation further reinforces the significance of the breakout. The asset has approached a critical resistance level after a prolonged downtrend from its early 2024 high of $1.00. A descending trendline connecting successive lower highs has now been challenged by a recent upward push. The $0.3399 support level has held firm through multiple downward tests, indicating strong buyer resilience. While trading volume during the recent rally has increased moderately, it remains balanced between buyers and sellers, creating a tight spread near $0.40 [1].

Market structure analysis highlights the potential for further gains. Higher lows and consolidation below $0.40 suggest a test of the $0.50–$0.60 range, contingent on a confirmed break above $0.40. The fully diluted valuation of $3.38 billion reflects sustained investor interest, despite a 3.07% decline in market cap to $1.95 billion [1]. Daily trading volume surged by 17.28% in the last 24 hours, reaching $227.74 million, underscoring renewed participation [1].

The implications of this dual pattern on weekly and daily charts are significant. A confirmed breakout above $0.40 could validate a broader bullish reversal, particularly if volume remains elevated during the move. Analysts caution, however, that further consolidation is likely before a sustained upward trend materializes. For now, the technical indicators—higher lows, sustained support at $0.35, and increasing volume—suggest a shift in sentiment toward optimism.

Source: [1] SEI Breaks Resistance on Weekly and Daily Charts: Does This Dual Pattern Confirm a Bullish Reversal? (https://cryptonewsland.com/sei-breaks-resistance-on-weekly-and-daily-char/)