SEI demonstrates signs of a bullish reversal on the daily chart, consisting of several technical figures and momentum indicators. Current analysis suggests possible price growth towards $0.65.
Inverse Head and Shoulders Confirmation
The daily chart of SEI displays a textbook inverse head and shoulders formation. This technical structure often marks the end of a bearish cycle, setting the groundwork for an upward trend. The left shoulder formed in early trading this year, followed by a pronounced head in April, and a right shoulder in May.
The neckline breakout in June confirmed the pattern and shifted market sentiment in favor of buyers. Since then, SEI has sustained higher lows and stronger closes, consolidating its reversal.
Golden Cross and Momentum Shift
In addition to the chart pattern, SEI's moving averages are signaling strength. A crossover between the 50-day exponential moving average (EMA100) and the 100-day exponential moving average (EMA50) has just taken place. This golden cross commonly indicates a shift into a bullish phase.
Historically, golden crosses attract renewed buying interest, as many traders interpret them as reliable confirmations of trend changes. The crossover has coincided with SEI’s movement above key resistance levels, further validating the reversal pattern.
Accumulation and Price Outlook
After the breakout, SEI entered an accumulation phase through July and August. This consolidation provided stronger hands with the chance to accumulate and weaker hands to sell off during this period. This lateral movement has made the structure healthy and prevented premature fatigue.
Accumulation zones are crucial before expansions because they provide stability and ensure momentum has sustainable backing. SEI has respected both the EMA50 and EMA100 during this time, keeping its trend intact. Such behavior often precedes new legs higher, with accumulation forming the base for further movement.
As of writing, SEI trades at $0.3227, marking a 1.42% gain in the past 24 hours despite a 2.86% weekly decline. Analysts, including Crypto Target, suggest the path to $0.65 remains viable, and if bullish momentum continues, the breakout could lead to even higher levels.
