- RSI crosses 50, confirming bullish strength and momentum reversal.
- Volume spikes support breakout, indicating strong buyer interest near $0.21.
SEI has broken out of a multi-week falling wedge pattern, shifting from a prolonged downtrend to a bullish formation. The breakout follows sustained consolidation, with buyers entering at key technical levels. Analysts now project a potential 2x rally from the breakout point. The current price holds above $0.21, with volume and RSI confirming bullish sentiment.
Falling Wedge Breakout Signals Trend Reversal for SEI
SEI’s daily chart confirmed a falling wedge breakout after several weeks of descending price action. The wedge formation was defined by lower highs and lower lows, beginning near $0.85 and bottoming at around $0.16. The breakout occurred as the price broke above the wedge’s upper boundary, a level previously acting as resistance.
Captain Faibik, a crypto analyst, shared the breakout chart on platform X. He noted that the breakout, paired with an intense daily close, sets the stage for a potential bullish rally. Trading volume spiked during the breakout, showing increased buying interest. The wedge’s former resistance trendline is now functioning as support.
Analysts have identified $0.52 as the next potential target based on the height of the wedge structure. No visible resistance lies between the breakout zone and the projected target, suggesting clear movement potential. Analysts added that price stability above the $0.24–$0.26 range could confirm a bullish continuation. However, a breakdown below support would invalidate the current setup.
RSI Confirm Strength in Bullish Momentum
As of March 26, SEI/USDT traded at $0.2131, posting a 2.35% gain on the day. The price opened at $0.2080, touched a low of $0.2068, and reached a high of $0.2185. This marked the seventh consecutive bullish daily candle, reflecting growing short-term strength.
The Relative Strength Index (RSI 14) now stands at 50.24, having crossed above the neutral 50 level. This is the first such breakout since early February, confirming improving momentum. Support remains at $0.2060 and $0.2000, with a breakout confirmation above $0.22. Resistance levels are expected at $0.2400–$0.2600. Analysts maintain that SEI must hold above $0.20 to retain a bullish structure.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
