- SEI trades at $0.2981, consolidating near Fibonacci levels, with $0.38 emerging as the decisive barrier between bearish pressure and bullish momentum.
- A confirmed breakout above $0.38 sets immediate targets at $0.49, with potential extension toward $0.66–$0.70, marking a 130% rally.
- SEC acknowledgment of the Canary Spot Staked SEI ETF filing coincides with bullish market ratios, showing increased institutional and retail trader interest.
SEI price is trading at $0.2981, consolidating below a key resistance zone that could determine its next major market direction.
Technical Setup Around $0.38 Resistance
Crypto analyst Ali _charts noted that SEI is struggling near the $0.3069 level, which aligns with the 0.618 Fibonacci retracement. The weekly chart shows price action contained inside a descending resistance channel. Repeated rejections at this level continue to reinforce the bearish structure.
Despite this, buyers have maintained strong defense at $0.26. This zone has acted as a floor, preventing the token from deeper declines. Traders now watch how the market behaves against $0.38, the key barrier positioned near the channel’s resistance.
This resistance is not only technical but also structural. It overlaps with the 0.5 Fibonacci level, where rallies have failed before. A breakout from here would indicate a potential shift away from bearish momentum.
Breakout Scenarios and Upside Targets
If SEI successfully clears the $0.38 resistance with strong volume, analysts expect fresh upside targets. Ali outlined that $0.49, sitting at the 0.382 Fibonacci level, would be the next retest zone. This move would confirm early signs of strength after the breakout.
A stronger thrust can reach $0.66–$0.70. This is the same level as the 0.236 Fibonacci, which is at the next structural resistance. A breakout to this level would be a move of 130% higher from here.
The bearish view holds until we see a decisive weekly close above $0.38. If we fail to break that level, we may see renewed tests of $0.26 or even the 0.786 Fibonacci level of $0.21.
Market Sentiment and ETF Development
Cointelegraph reported that the SEC has acknowledged a filing for the Canary Spot Staked SEI ETF. This development has added further attention to the token at a critical technical juncture.
Market sentiment also shows a strong tilt toward the bullish side. According to coinglass, Binance accounts report a long-to-short ratio of 2.16. Among top traders, the ratio is even higher at 2.48, while overall positions stand at 1.24.
This concentration of long positions suggests confidence in upward continuation. However, elevated ratios raise the risk of a squeeze if resistance at $0.38 holds. Market participants continue to monitor volume and structural strength before confirming trend reversal.
