SEI Network has again gained market-wide attention with a notable rebound. In this respect, the native $SEI token of the SEI Network has reportedly bounced back from the critical support at $0.106. As per the data from Ali Martinez, $SEI has started a steady upward movement, raising trader expectations. Hence, the market participants are now looking at $0.115 as the next target for $SEI.
$SEI Price Shows Rebound from $0.106 Support, Looks for $0.115 as Next Target
The on-chain data reveals that after holding on the support level of $0.106, $SEI has started climbing gradually. As anticipated on the 24th of December, the crypto token is making a consistent upward movement. While it is currently trading at $0.111, it is anticipated to spike further to the $0.115 spot. The latest buying interest occurs after a consolidation over the recent days. Additionally, the Relative Strength Index (RSI) of $SEI is hovering within the oversold zones, highlighting the likely exhausted selling pressure. Thus, it could lead to a short-term recovery.
$0.207 and $0.257 Pose Higher Resistance after $0.115
According to Ali Martinez, amid $SEI’s gradual rebound from the $0.106 support, it is expected to hit $0.115. Additionally, the traders are also optimistic that SEI could surge past the resistance at $0.115. In the case of a successful attempt to jump above this, $0.207 as well as $0.257 serve as the next resistance levels. However, it is yet to be seen whether this protection materializes or not. At the moment, the market onlookers are closely watching the $0.115 mark to determine the next course of action.
Source: https://blockchainreporter.net/sei-network-bounces-back-from-support-at-0-106-and-eyes-0-115/