Sei Crypto’s price recovered 20% in just two days, but facing resistance and a poor trend since March, showing bullish momentum and potential future gains.
Sei Crypto (SEI) recently demonstrated an amazing price recovery, rising by 20% in just two days after producing a hammer candlestick pattern on the 200-day Exponential Moving Average (EMA).
Despite opposition near $0.600 and a bearish trend since March, Sei has shown hints of bullish momentum, especially after breaking out of a descending trendline. Analysts are confident, expecting that SEI will soon retake the $1 level and may rise even higher in the future.
SEI Crypto Price Recovery
The Sei Crypto’s price trend has recently taken an upward turn, producing a hammer candlestick on the 200-day EMA. This technical pattern is frequently seen as a positive indication, indicating that buyers are returning to the market. SEI has surged 20% in the last two days, signaling considerable purchasing activity.
Despite this rising momentum, Sei Crypto has hit resistance near a psychological level, shifting momentum to the selling. SEI has been in a bearish trend since March, with a recent standstill around $0.250. This level has been tested several times, and in recent market activity, purchasers have successfully defended it.
The price has been encountering opposition from a declining trendline, but current bullish momentum has helped SEI to break free of this trendline, indicating possibility for additional upward movement. The price’s ability to stay above the 200-day EMA will be critical to maintaining a positive trend.
SEI Crypto Future Price: Eyeing To $1
Sei Network is currently trading at about $0.4838, with flat movement over the last 24 hours. With a market capitalization of $1.68 billion and a 24-hour trading volume of $333.02 million, conditions are ripe for a breakout.
If SEI can break beyond the current swing high of $0.600, buying pressure is likely to rise, particularly if trade volume supports this momentum. A successful grow above this level could push SEI towards the $1 mark.
However, if Sei Network meets resistance at this level, investors may take profits. Should the price go below the 200-day EMA, selling pressure may increase, perhaps sending SEI back down to the $0.250 support level.
Technical Indicators Supporting a Bullish Outlook
Technical indicators are currently pointing to a bullish outlook for Sei Network. The MACD has shown a bullish crossover, with red histograms decreasing signaling increased buyer interest. Meanwhile, the Relative Strength Index (RSI) produced a golden crossover with its moving average, indicating that traders are bullish.
Crypto analyst Crypto Patel stated that Sei Crypto has the potential for major price movement. He noted the breakout from an hourly bull flag pattern, which indicates that the upward trend will continue. Patel sets SEI’s short-term aim at $1, with long-term targets ranging from $5 to $10.
Technical Analysis and Price Forecast
Sei Crypto is set for important price movement, with bullish momentum and a breach from the declining trendline. If the price remains over the $0.600 barrier level, SEI is expected to make a push for $1.
However, traders should be aware of potential resistance levels and keep an eye on trading volume to confirm buying pressure and maintain momentum. Technical indications point to a bullish mindset, implying additional buying in the following days.
Sei Crypto has experienced an impressive price recovery, establishing a bullish candlestick pattern on the 200-day EMA. With important resistance levels approaching, traders are bullish about regaining the $1 barrier and achieving higher targets. Bullish indications and robust market mood point to major price changes in the near future.
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