- SEI Token is testing a critical support zone in a descending channel.
- A confirmed bounce could target price levels from $0.105 to $1.000.
- Strong bounce potential at the support zone could trigger upward movement.
SEI Token is testing a critical support zone within its descending channel, presenting a strong bounce potential. With previous buyer interest at this level, a confirmed reversal could trigger a significant upward move.
SEI Token Approaches Key Channel Support – Will It Bounce?
Crypto analyst Jonathan Carter reports that SEI Token is nearing the lower boundary of its descending channel pattern on the weekly chart. Currently testing a critical support zone, the token finds itself at an oversold level, presenting strong bounce potential.
Historically, this support area has attracted significant buyer interest, and a reversal from here could trigger a notable upward move.
The descending channel structure has clearly defined support and resistance zones, with the lower boundary playing a crucial role. Carter suggests that if this support holds, SEI could see upward movement toward multiple price targets, including $0.105, $0.145, $0.205, $0.360, $0.480, $0.700, and $1.000. A confirmed bounce at this support zone could result in a substantial rally for SEI Token.
Key Price Targets and Support Zone for SEI Token
If SEI Token manages to defend the critical support zone and reverses its trend, it could trigger significant upward movement. The price targets identified by Carter range from $0.105 to $1.000, depending on how the token performs after the bounce. The established channel has provided clear guidance on where SEI may face resistance and support levels as it moves through the current phase.
As buyers defend the support zone, SEI Token has the potential to move higher and retest previous resistance levels. However, any failure to hold the support zone would signal a possible deeper retracement, so traders are closely watching for confirmation of a reversal from this key level.
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.
