Sei Network (SEI) is drawing attention after displaying promising long-term market patterns. Analysts highlight that the cryptocurrency has moved from an extended accumulation phase into a confirmed bullish setup.
One of the key technical patterns visible from the weekly chart is the falling wedge identified in 2023-2024. The significance of this formation is that it depicts weakening selling pressure as there are lower highs and lower lows converging. Historically, when such a formation appears, an upside breakout is imminent as sellers have lost control.
SEI then printed a wedge pattern, followed by a bull flag formation. This occurs after an important price movement, known as the flagpole, which in this case was followed by a corrective period, letting weak holders exit, thereby removing them.
The formation of higher lows followed by higher highs indicates that this market’s demand is building up and preparing to break out. The breakout levels at $0.13 to $0.20 marked the finish of accumulation, and the breakout past $0.67 converted resistance to support.
Analysts also say that if this buying pace continues and the overall crypto market improves, SEI may go up to $3.00 in the future. Positive partnerships and fast transaction times on the blockchain network are reasons supporting the long-term viability of this altcoin.
No matter the positive setup, SEI is under short-term pressure. TradingView indicates that the coin is trading in the range of $0.109-0.110, just above an important old support line. There is weak follow-through buying pressure indicated in the weekly candles that only protects the zone but lacks enough power for a reversal. The 9-week DEMA is acting as a dynamic resistance line at $0.102-0.105.
Also, momentum indicators warn of caution. The RSI is at 32, indicating that SEI is oversold but lacks bullish divergence. The MACD is still below its signal line, indicating that bearish momentum is still intact. Even if there is a short-term bounce, this should still be considered as a relief rally unless all technical indicators are aligned.
The first support level that is crucial is in the $0.10-$0.105 region. If breached on a weekly closing basis, prices may go lower, and an important level of support may be seen in the $0.075-$0.08 region. For SEI prices to move higher, they first need to break through the support level of $0.13 and then of $0.17-$0.18. For that level to be achieved, a target of $3.00 will then be possible.
Also Read: SEI Price Could Surge to $0.13 Following DIA Integration and Strong Q3 Growth


