SEI is in the process of making a significant technical move, with many analysts believing that a breakout above $0.38 could trigger further gains.
Resistance Levels and Breakout Potential
Analyst Ali (@ali_charts) shared a weekly chart suggesting that a close above $0.38 is the key trigger. The chart shows SEI trading within a long-term descending channel, where mid-range resistance continues to reject attempts at recovery.
The 0.382 Fibonacci retracement is also confluent to the $0.38 level. An authenticated close above this level may create a structural break out, which may result in staged upside targets of $0.45, $0.65, and eventually $1, if momentum continues.
Short-Term Market Snapshot
According to CoinMarketCap data, SEI holds a market capitalization of $1.73 billion with a fully diluted value near $2.89 billion. With 6 billion tokens in circulation out of a total 10 billion supply, market exposure stands at 60 percent.
Daily trading volume of $211.6 million reflects strong liquidity, accounting for over 12 percent of market capitalization. Despite this, trading activity has softened slightly, with a minor decline in volume suggesting cooling demand.
Support and Risk Considerations
SEI continues to hold above its lower support near $0.28, which has repeatedly contained selling pressure. The zone is essential to stabilizing the price action as buyers are about to test the higher resistance.
Should the $0.28 support fail, the next point of interest will be the downside levels of $0.265-$0.270. A breakdown below these levels could open risk toward the channel’s lower boundary near $0.16.
The need to hold the $0.28 level and break $0.38 is critical for SEI's further development. Analyzing current resistance and support levels will provide investors with better insights into the market situation.
