Sei Price Eyes Breakout as $0.37 Resistance Becomes Critical Level to Watch

Technical analysis across multiple charts reveals prolonged consolidation within a descending triangle, with volume trends and momentum indicators signaling the potential for a breakout.

Traders are closely watching whether the token can breach this resistance to ignite a strong rally or if it will face renewed selling pressure.

According to Ali (@ali_charts on X), SEI has been trading within a descending triangle pattern for an extended period, pressing against a resistance trendline tracing back to early highs.

The breakout point identified at approximately $0.37 is pivotal; clearing this barrier could trigger a strong upward movement following months of decreasing volume and consolidation near the triangle’s apex.

Source: X

Fibonacci retracement levels suggest the first major upside target around $0.50, corresponding to the 0.236 retracement level. Should momentum continue, further gains toward $0.76–$0.90 are possible, aligning with previous consolidation zones and higher Fibonacci extensions.

Failure to break above $0.37, however, may see the memecoin revisiting lower supports, continuing the accumulation phase until a decisive trend emerges.

The short-term data from BraveNewCoin reports SEI trading near $0.29, down 3.8% over the past 24 hours. Despite the slight pullback, trading volume remains active at $120 million, supporting steady liquidity. Price action has been confined within a narrow range between $0.288 and $0.296, indicating market indecision.

Source: BraveNewCoin

This consolidation near $0.29 resembles the formation of a near-term base, with repetitive dips and rebounds suggesting attempts to stabilize. Momentum remains weak, and a break below this base could lead to a quick test of $0.28 support.

The cryptocurrency market rank at #72 emphasizes its mid-cap status, where holding solid support is essential for bulls aiming to build upward momentum. A surge in volume would be necessary to challenge higher resistances effectively.

TradingView’s daily chart integrates Bollinger Bands and MACD to provide momentum insights. SEI price hovers slightly below the Bollinger middle band at $0.3129, currently at about $0.2926. The lower band at $0.2751 serves as immediate support, while the upper band at approximately $0.3508 aligns closely with the $0.37 resistance highlighted earlier.

Source: TradingView

The MACD remains in a mildly bearish stance, with the MACD line just below the signal line and a negative histogram at -0.0039, indicating subdued bullish momentum. However, the proximity of the MACD and signal lines signals a possible bullish crossover if buying activity increases.

Maintaining price above the $0.29 support and separator line could build momentum toward the $0.35–$0.37 resistance range, while a failure to hold may result in a pullback to $0.27, where stronger support exists.