The SEI price is currently held above the key support level at $0.29, attracting the attention of traders and analysts. Let's discuss the current situation and possible scenarios.
Technical Analysis and Support Level
According to analytical data, the $0.29 level is a significant support zone for SEI. This level has been tested multiple times, and each time traders have shown activity at this level, indicating its importance to the market.
Structure and Potential Movements
The current price formation of SEI resembles a 'bullish pennant', which may indicate an upcoming strong movement. Analyst Rand noted that if the price breaks through the current consolidation with volume, a sharp move towards $0.36–$0.38 is likely. If successful, this could lead to a further test of the $0.43–$0.44 level.
Key Levels and Forecasts
At present, the $0.29 level remains key for the further movement of SEI. If the price stays above this level, the bullish scenario remains relevant. Conversely, a decline to $0.25 or $0.22 is possible. The market awaits whether SEI can turn the current state into the start of the next bullish wave.
The discussed levels and current structure of SEI price suggest a potential continuation of the current upward movement. However, the further development of the situation depends on traders' actions and market volume.
