SEI has surged ahead in the crypto market, posting a 43% weekly gain and outperforming major cryptocurrencies like Bitcoin and Ethereum. After recovering from a recent decline, SEI rallied nearly 100% from its local low, reclaiming key support levels and breaking out of bullish patterns.
Last week, SEI retested the $0.15 support level last seen in early April before bouncing back above $0.20 over the weekend. The token then climbed nearly 70% at the start of the week and has since hovered between $0.24 and $0.29, attempting to break the $0.30 resistance.
Analyst Sjuul from AltCryptoGems dubbed SEI the “Bull of the week,” crediting its surge to increased on-chain activity attracting new investors and whales. Crypto Raven noted the market appears fresh and suggested SEI could rally another 70%, potentially reaching $0.50 if market support continues.
Critical Levels to Watch
- Analyst Nebraskangooner identified a four-month inverse Head and Shoulders pattern recently confirmed by SEI’s breakout and noted that holding above the neckline near $0.27 is key for bullish momentum.
- Michaël van de Poppe highlighted a bullish divergence against Bitcoin, forecasting a potential price increase to over 300 sats.
- The Wyckoff Architect emphasized the importance of reclaiming the Fair Value Gap at $0.285 to confirm further upside. Failure to hold this level could lead to a bearish reversal and lower local lows.
Currently, SEI trades around $0.28, up 12% within the day, as it consolidates before potentially pushing toward resistance near $0.50.