Sei (SEI) Shows Early Signs of Momentum as Price Holds $0.28

The Sei Network token has been gaining traction among traders, with renewed optimism emerging as price action suggests the potential for a new upward swing.

The latest chart views show that the asset may be preparing for a move higher, supported by gradual accumulation and technical patterns pointing toward resilience in the face of broader market uncertainty.

Price Action Points to Building Support

Recent price movement shows SEI consolidating above a long-term ascending trendline. The coin has held firm around the $0.27–$0.28 range, an area that has served as a key support base during multiple retests. The chart shared earlier this week highlights how buyers have repeatedly stepped in at these levels, preventing deeper pullbacks and suggesting that demand is beginning to stabilize.

Source: X

The pattern resembles a series of higher lows forming over the past months, a sign often associated with strengthening bullish sentiment. Traders are particularly watching the next leg upward, with the possibility of the asset attempting to reclaim the $0.40–$0.50 zone if momentum accelerates. A decisive breakout from the current consolidation could mark the start of a more extended rally, especially if volume confirms the move.

This structure places the token in a favorable position as October begins, with speculative interest building around whether the coin can sustain its climb. While caution is warranted, the resilience near support has added confidence to the idea of further upside potential.

Market Data Reflects Steady Positioning

As of the latest update, Sei is priced at $0.28, reflecting a minor 0.03% decline in the past 24 hours. Despite the small dip, the project maintains a robust market capitalization of $1.69 billion, ranking it within the top 100 digital assets. Daily trading volume reached $127 million, a healthy figure that underlines consistent liquidity and active participation.

Source: BraveNewCoin

The coin’s circulating supply currently sits at more than 6.12 billion tokens, showcasing the scale of the network. While the price remains far below its earlier peaks, the ability to hold steady amid volatile conditions suggests that the market is still valuing the project as a contender within the competitive Layer-1 and trading-focused blockchain space.

The recent sideways price action indicates that investors are in a wait-and-see mode, consolidating positions as they anticipate the next major shift in momentum. This calm period, while unremarkable on the surface, can often serve as the foundation for larger directional moves.

Technical Indicators Signal a Turning Point

On the daily chart, SEI is trading at $0.2942, showing a gain of more than 6% in the session. The rebound follows a period of weakness, positioning the token just above a critical support band. Technical indicators provide additional context for traders monitoring its next move.

The Chaikin Money Flow (CMF) reading at -0.02 reflects slight selling pressure, but the fact that it is hovering close to neutral suggests that capital outflows may be slowing down. A shift into positive territory could reinforce the bullish case, indicating that buying activity is beginning to outweigh distribution.

Source: TradingView

Meanwhile, the MACD indicator shows the MACD line (-0.0080) sitting just under the signal line (-0.0056), with a negative histogram at -0.0024. While this reflects lingering bearish momentum, the narrowing gap hints at a potential crossover in the near term. If confirmed, such a signal could mark the start of a short-term trend reversal.

Overall, the combination of stable support, modest inflows, and a possible MACD shift underscores that the crypto is nearing an inflection point. For traders, the focus remains on whether the coin can sustain levels above $0.28 and push toward the next resistance range near $0.35–$0.40.