- The technical pattern of a breaking falling wedge indicates SEI might stop its downward trend following several months of decline.
- Price reached $0.1792 beyond its key resistance line of $0.1720 and demonstrated a 14.3% increase that came with rising trading volume.
- A near-$0.36 target point stands ready to unlock a maximum 104.16% rally potential according to technical price projections.
The SEI/USDT pair has shown renewed momentum after a sustained downtrend, with recent data indicating a price increase of 14.3%, pushing the asset to a current level of $0.1792. The price surge takes place after the breakthrough from a falling wedge chart formation which started during late 2023. The daily timeframe analysis suggests a changing market sentiment which suggests investors might follow a bullish trend.
SEI Breaks Key Resistance as Falling Wedge Signals Potential Trend Reversal
During the last several months SEI displayed a distinct falling wedge pattern that began above $0.70. The price stuck to the lower trendline repeatedly as it gathered support making the pattern narrower while resistance remained stable in an increasingly downward direction.This technical formation typically indicates a slowdown in selling pressure and often precedes upward reversals.
The price of SEI exceeded its top resistance boundary at $0.1720. The market movement indicates bearish momentum has possibly softened thus pointing toward a reversal. SEI’s price movement combined with volume data creates evidence for the thesis that a breakout will occur since the asset reached its significant support level at $0.1544 before experiencing a strong rebound.
Resistance and Support Levels
The first resistance point reaches $0.1791 while remaining close to the current market value of $0.1792. The continued support of SEI at its current position above the previous descending trendline makes a potential rise toward the targeted area near $0.36 probable in the chart. The identified target indicates a 104.16% increase in value when considered from the breakout area perspective.
A strong support mark occurs at $0.1544 in contrast to the market price. Failure to maintain the breakout position will make this key support level vital in stopping bearish market reverberation.
Market Implications and Future Outlook
The completion of the falling wedge pattern alongside a breakout adds technical confirmation of a possible bullish phase. The upward price movement will need strength-validation that includes higher trading volume along with continued stability above major resistance zones.
The asset might start a new accumulation phase or develop an early uptrend because SEI has recently broken through long-term resistance without losing its technical strength.
