SEI Price Faces Critical Resistance: Will Bulls Break Through?

SEI is currently exhibiting mixed signals in its price action, as observed by crypto analyst Crypto_Jobs in his analysis.

Crypto analyst Crypto_Jobs has shared his analysis on the price action of SEI ($SEI), highlighting critical resistance and support levels in his assessment.

According to the analysis, SEI is currently facing resistance at key levels, which could potentially impact its short and mid-term price movements. A detailed examination of both lower and higher time frames provides insights into the possible scenarios for the token.

Resistance Levels at $0.4200-$0.4250

Crypto_Jobs identifies a crucial resistance zone between $0.4200 and $0.4250, which corresponds to the 50% Fibonacci retracement level. This zone also aligns with the daily neutral zone, likely linked to the Tenkan and Kijun lines in the Ichimoku Cloud system.

nobs Earlier support at this level has now become resistance, and a bearish retest could occur if SEI fails to break above this area.

“$SEI / USDT – Price analysis: ?Possible bullish retest [WEEKLY].

-The price remain stuck below the downtrend [H4 – H1] ?

-Possible bearish retest on the 0.4250 – 0.4200$ resistance. (precedent support)

This level correspond to the exact middle of the neutral zone…”

If the token fails to break past $0.4200, it may experience short-term bearish pressure, as highlighted by the analysis. Watching for any bearish rejection around this resistance will be crucial, as a failure to break through could trigger a consolidation or downward movement.

Support at $0.3600 Remains Untested

On the downside, SEI has a critical support level at $0.3600, which has yet to be tested. This level is key for a potential pullback if the price gets rejected at the current resistance, according to the analysis.

Although the mid-term outlook remains bullish, there is uncertainty regarding whether SEI will first move down to test this support before resuming its upward trajectory.

“Although the mid-term outlook is still bullish, we can see that the token could go down to test this support before moving up again.”, the analyst adds.

Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!

Short-Term Bearish Setup on Lower Time Frames

On shorter time frames, such as the H1 and H4 charts, SEI shows signs of a potential bearish setup. Crypto_Jobs points to possible consolidation or downward movement in the immediate term, especially if the token fails to clear the $0.4200 resistance.

The price appears stuck below a downtrend on these time frames, signaling the need for bulls to gain strength before any further upward movement. Despite these short-term concerns, the mid-term outlook remains positive, provided the price breaks through key resistance levels.

Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.

Get all our future calls by joining our FREE Telegram group.

The above is the detailed content of SEI Price Faces Critical Resistance: Will Bulls Break Through?. For more information, please follow other related articles on the PHP Chinese website!