- SEI has surged nearly 18% despite market turbulence, showing strong resilience.
- Breaking its descending trendline and closing above the 1D EMA20 signals a bullish breakout.
- The next key target is $0.33, with EMA200 as a major resistance level.
- SEI remains a trader’s market, offering both long and short opportunities.
SEI (SEI) is riding a strong bullish trajectory, defying the broader market turbulence triggered by the Bybit hack and Bitcoin’s recent decline. Despite the chaos, the token has surged nearly 18% over the past week, showcasing its resilience as investor sentiment improves.
With fears surrounding the Bybit hack fading and Bitcoin regaining strength, altcoins are experiencing renewed momentum. SEI, in particular, has benefited from this shift, attracting attention as one of the market’s standout performers.
SEI Poised for a Multi-Month Breakout
Crypto trader Captain Faibik highlighted SEI’s potential for a major breakout, predicting a 60-70% bullish rally in the coming weeks.
From a technical standpoint, the token is exhibiting strong signs of a trend reversal. After sweeping its August 2024 lows for liquidity, the altcoin has held key support levels and begun forming a new base.
A significant development occurred when the token broke its descending trendline on the daily chart, confirming a bullish breakout. This move was further validated by a strong candle closing above the 1D EMA20, signaling increased buying momentum.
However, traders remain cautious, as the breakout alone does not guarantee a sustainable macro-bullish move. The current price action could be a corrective impulse, filling the imbalance created on February 2nd and 3rd.
Key Levels to Watch
If SEI’s rally continues without rejection, the next major target is $0.33, a former support level that could now act as resistance. A successful reclaim of this level would strengthen the case for a mid-term bullish market structure.
That said, the token remains well below the 1D EMA200, a key resistance zone where bearish pressure could emerge. A decisive breakthrough and retest of this level would signal a potential push toward new all-time highs.
For now, SEI remains a trader’s market, offering both long and short opportunities at critical price levels. As the broader crypto market stabilizes, the token’s ability to sustain its momentum will be closely watched by investors and traders alike.
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