Cryptocurrency SEI displays positive signals in the market, forming a double-bottom and increasing liquidity through ecosystem growth.
Confirmed Double-Bottom Formation
SEI is completing a double-bottom pattern, retaining support in the $0.275–$0.295 range. A late June breakout solidified this zone. Currently, the price is at $0.3203, achieving higher lows, indicating bullish momentum. Projected movements from this structure could reach the $0.65–$0.70 range.
Triangle Consolidation Near Resistance
The analysis showcases a symmetrical triangle forming with support at $0.28 and resistance at $0.33. The breakout target is near $0.36. The $0.26–$0.28 support has proven to be a critical accumulation level, increasing the likelihood of a breakout.
Ecosystem Growth Boosting Liquidity
Recent reports on network growth highlight accelerating adoption, with SEI dApps surpassing one million unique active wallets in 24 hours. The stablecoin market cap stands at $289.69M, up 34% in a week, nearing the $300M mark. Over $500M was recently transferred into the ecosystem via Stargate Finance, pushing total wallets over 50M.
SEI aligns technical and fundamental setups suggesting potential upside, supported by increased liquidity and active network use.
