SEI Holds Breakout Support at $0.23, Setting Stage for Renewed Rally

$SEI confirmed a breakout from a downtrend, clearing resistance near $0.22-$0.23 with strong volume and buying momentum.

The price currently retests the breakout zone, supported by the 9-day EMA and maintaining a bullish medium-term structure.

Volume shows reduced selling pressure during pullback, indicating a potential continuation toward previous highs above $0.28.

Sei (SEI) is currently retesting a crucial price level after breaking above a long-standing resistance zone between $0.22 and $0.23. This area is seen as a potential launchpad for future gains if price stability holds.

Resistance Breakout Followed by Retest

According to a post by Alpha Crypto Signal, $SEI initially faced rejection at the $0.22–$0.23 resistance. The asset recently managed to break through this level and is now undergoing a retest. The horizontal zone that previously served as a barrier is now acting as support.

The breakout followed a descending channel formation on the daily chart, which $SEI exited with strong bullish volume. This pattern shift suggests a potential trend reversal. The ongoing retest aligns with the 9-day exponential moving average (EMA), currently around $0.2352, which adds another layer of technical relevance to the level.

Volume and Moving Averages Support Bullish Setup

The pullback to the breakout zone has been marked by declining sell volume. This decrease in downward pressure may signal temporary profit-taking, not renewed bearish sentiment. Meanwhile, $SEI remains comfortably above the 50-day simple moving average, which is now positioned near $0.1958.

This alignment between price structure and moving averages supports a bullish case in the medium term. If $SEI holds above the $0.22–$0.23 region, a continuation toward the $0.28 zone becomes increasingly plausible.

Market Outlook and Upside Potential

The current price of Sei (SEI) stands at $0.2304, reflecting a 2.41% increase in the last 24 hours. Despite the recent 12.22% price decline over the past week, SEI maintains a favorable medium-term structure

Alpha Crypto Signal emphasized that if the retest proves successful, SEI could advance toward its previous swing highs above $0.28. The current setup is being monitored by traders as a critical point for continuation.

This level, if defended, would establish a base for SEI to resume its upward trend. With bullish momentum building and technical indicators aligning, the next few trading sessions could determine SEI’s short-term trajectory.

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