Key Takeaways:
- SEI price surged 41% this week amid rising trading volume.
- A breakout above $0.37 confirms a bullish trend toward the next resistance levels.
- Holding above $0.40 may trigger a breakout toward $0.50 soon.
The Sei Network native token, SEI, is seeing a healthy recovery of price action. Currently traded at $0.3719, the asset contributed 6.46% during the previous 24 hours, although the week-on-week return remains a substantial 41.62%.
Volume for 24 hours has crossed the figure of $719 million, which means growing interest, while the market value stands at a level of $2.15 billion.
Closely examining the current 7-day candlestick chart, a prominent bull setup can be observed. Token instigated the upsurge near the level of $0.27, wherein the price action accelerated speedily above that level of $0.35, accompanied by increasing volume and spirited buying interest.
Following the upsurge, the price stalled in a consolidation stage between $0.32 and $0.35, which reflects a transient equilibrium wherein traders probed the course of the future move.
Breakout Signals Bullish Continuation Toward $0.50
SEI, having consolidated for a short while, emerged strongly from the previous resistance level with a bull candle, rising just above $0.37. This breakout was accompanied by new volume and buying interest, which reinforced the optimism.
The token is now trading above $0.37 levels, with smaller candles being formed, a feature normally associated with slow base-building or profit-taking. This current zone could act as a new support level if sustained.
A successful bounce above this level sets up another leg up, a possible route to the closely watched $0.40 resistance. A clean break above this region could initiate a swift pop to $0.50, in line with bull projections offered up by most analysts.
Also Read: Sei Network (SEI) Breaks Out With 24% Surge, Eyes $0.70 as Bullish Momentum Builds
Analysts Spot Clear Path for SEI Upside
Crypto analyst Trader Koala cited SEI as one of the better non-meme altcoins, noting that a breakout through $0.40 can occur soon, going beyond $0.50.
To back that thesis, his chart from TradingView, covering mid-2024 to mid-2025, shows a straightforward price action chart without convoluted indicators.
After spending much of late 2024 in a sideways trading pattern, SEI now initially shows the early onset of a breakout. It is gradually shifting from a consolidation mode to a more positive bull setup, supported by improving technicals and a recent spike in volume.
One level of interest remains the $0.40 resistance area, a strong close above that level could trigger a rapid advance towards the next target near $0.50 or farther. This level was a ceiling for SEI for a long time previously, and switching that level from resistance back to support would confirm new bull momentum.
But if the price can’t stay above current levels, a pullback is possible, which might bring SEI back towards the $0.30 support area. This wouldn’t necessarily exclude the broad bull picture but might place additional gains on hold.
Also Read: SEI Targets $0.47 as Breakout Momentum Builds Ahead of August Rally
Disclaimer: This article is based on real-time market data and general technical observations. It does not constitute financial advice. Always conduct your own research before making investment decisions.
