Sei (SEI) has captured market attention this week as technical indicators suggest the token may be preparing for a bullish breakout.
According to crypto analyst Ali Martinez, SEI is retesting a key trendline, and reclaiming the $0.35 support level could pave the way for a strong move toward $0.90.
The current price of SEI sits near $0.297, showing mild upward momentum after recent market weakness. The Relative Strength Index (RSI) on the daily chart is hovering around 45, indicating neutral territory with potential room for growth if buying pressure increases.
Martinez’s chart highlights a decisive breakout zone. Should SEI secure a position above $0.35, Fibonacci retracement levels suggest that the next resistance points lie around $0.50, $0.70, and ultimately $0.90. A successful retest and continuation upward would signal a major reversal from months of sideways trading.
However, SEI faces the challenge of maintaining its position in a broader market that has recently seen sharp corrections across altcoins. Sustained buying activity will be key for SEI to establish momentum.
As traders monitor these developments, SEI stands at a crucial juncture: either consolidating further below resistance or breaking out into a new bullish phase. The coming weeks will likely determine whether it fulfills this potential move toward $0.90.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/sei-chart-signals-bullish-breakout-potential-toward-0-90/