Sentiment remains cautiously bullish, with upside targets near $0.50 or $1.
SEI is back in focus after a sharp rally pushed its price up 76% in just a few days. Traders are turning optimistic as technical patterns and growing market interest suggest the uptrend may continue.
While some are eyeing more upside, others are cautious, waiting to see how the token handles a key support zone. The breakout has revived momentum, but the next move hinges on this crucial retest.
According to a chart by analyst FOMOwiz, SEI broke out of a multi-month downtrend with strong volume. The price moved from under $0.18 to nearly $0.34 before cooling off. Volume peaked at the top, a common signal for a temporary top or distribution phase.
As per the chart, SEI is now retesting the $0.26 to $0.27 support area. This level had previously served as a resistance, making it a key zone to watch. If the token holds above it and prints a higher low, a push toward $0.50 or even $1 could follow, according to FOMOwiz.
Zen, a market analyst, pointed out that while SEI’s chart shows strength, traders should avoid entering blindly. He identified $0.253 as a possible dip level but cautioned that safer entries lie below, around $0.231 and $0.212.
According to Zen, placing limit orders at those levels may offer a better risk-reward ratio.
He warned that many traders place stop-loss orders under $0.191. If the market sees a sell-off, that area could be wiped out to trigger forced exits. For mid-term holders, he maintained that buying dips could still offer potential rewards if approached with caution.
Sherif, a DeFi analyst, commented that SEI’s sharp rise from below $0.22 to $0.33 showed strong momentum before facing rejection. He highlighted that volume peaked at the top, aligning with a distribution pattern.
SEI is now hovering below the $0.275 level. Sherif noted that this area must hold to keep bullish momentum alive. If buyers defend it successfully, the structure may support a renewed uptrend.
Per CoinGecko data, SEI is trading at $0.2682, down 12.6% over 24 hours but still up 45.4% in the past week. Despite the short-term pullback, overall sentiment remains cautiously optimistic.
