Crypto Front reports SEI is displaying strong bullish momentum as it breaks out of consolidation and approaches key resistance levels.
Inverse Head and Shoulders Suggest Reversal
SEI is forming an inverse head and shoulders pattern, signaling potential upside. The price is making higher lows and testing the $0.2497 resistance. If cleared, further rally to $0.36 or higher is possible. Key support at $0.2104 - $0.2200 remains intact.
Technical Indicators Support Bullish Momentum
Key technical indicators indicate upward pressure. RSI at 52.28 suggests upward movement, and a breakout above 60 could confirm a bullish trend. The Directional Movement Index shows increasing buying pressure, with +DI at 21.12 and -DI falling to 41.04. The Average Directional Index at 23.60 indicates medium trend strength, and a breakout above 25 could set the trend to bullish.
Key Levels to Watch and Future Outlook
The critical level to monitor is $0.2497. If SEI sustains above this resistance, it could push towards $0.35 - $0.38. A failure to break this level could lead to a retest of support around $0.22 - $0.20. Traders are closely watching for confirmation as SEI’s momentum builds. In the last 24 hours, SEI has surged 10.47%, reaching $0.276 with a trading volume of $258,268,621.
The outlook for SEI is promising with potential upward movement if key resistance levels are surpassed.
