SEI has rallied 26% in two weeks, jumping from $0.25 to $0.315. On July 5, a minor setback was rapidly retraced, and bulls regained the upper hand. SEI broke through the resistance at $0.26, providing verification of a new uptrend and drawing strong market attention.
Currently, the token trades at $0.3614, having risen by 36.05% in the previous week. Although SEI declined marginally today, it appears to be due to profit-taking. The market capitalization sits at $2.08 billion, down 2.13% in the previous 24 hours, whereas volume rose 37.26% at $450.87 million.
SEI’s unlocked market capitalization stands at $2.09 billion, indicating a small distance from the total, which implies the bulk of the supply is in circulation. Increased volume indicates strong interest, and dip buyers are active. This confirms the bullish price structure evident at more than one timeframe.
Technical breakout confirms uptrend structure
SEI’s chart shows higher highs and higher lows, confirming bullish momentum. Each dip finds support above the previous low, keeping the uptrend intact. While not visible, volume continues climbing, reinforcing confidence. Bulls are supporting levels and vigorously rejecting sell pressure at retracements.
MetaShark identified a resistance zone of $0.32-$0.33, at which investors can take profits. On a successful breakthrough through it, the price of SEI can challenge the resistance at $0.35. Declines to $0.30-$0.305 can be buying opportunities for the short-term goals of near $0.33.
Crypto Feras released the SEI/USDT chart, which had exhibited an inverse head and shoulders (iH&S) pattern since March. Token broke the neckline at the previous month’s $0.29, following a 142% rally from the long-term support zone of $0.14-$0.15, cementing bullish certitude.
SEI chart targets extend toward $0.3614
SEI continues to backtest resistance near $0.33 after breaking the neckline. The unequally shaped right shoulder and the rising volume confirm structural support. Crypto Feras projects further movement towards $0.39 and, in the distance, the major supply zone of Q4 2024 at $0.49. This $0.22–$0.23 area of demand has flipped back to support.
Upwards lows affirm buyer control and sustained trends. L1 tokens keep rising, and SEI staying above $0.33 maintains the bullish pattern. The attention now turns to $0.35 and eventually the breakout level of $0.49.
