SEI Price Could Surge to $0.17+ if It Breaks Above the $0.14 Resistance Level

3 mins mins

Key Insights:

SEI price faces key resistance at $0.14, which could lead to $0.17.
Support zone at $0.120 is critical for price reversal or further decline.
The double bottom pattern suggests a potential surge to $0.58 if breakout occurs.

Frame 12 — *SEI Price Could Surge to $0.17+ if It Breaks Above the $0.14 Resistance Level*

The price of SEI could see an upward movement toward $0.17 if it manages to break through the resistance level. Recent market analysis has pointed to the $0.14 level as a key point for potential price action. Traders are watching closely to see if the price will clear this level and continue higher.

SEI Key Resistance at $0.14 and Support Zone

SEI has recently faced significant resistance at the $0.14 price level. This level has been a strong barrier, with the cryptocurrency struggling to move past it in recent trading sessions. According to analyst Ali_charts, a breakout above this price could trigger a surge toward $0.17 and higher price targets.

This statement suggests that a breakout above the $0.14 mark could lead to continued upward momentum. Until that level is breached, the price action may remain volatile.

Despite some bullish patterns, SEI has experienced downward pressure in recent weeks. The cryptocurrency is currently trading at $0.13619, showing a 1.53% loss on the daily chart. The price has fallen from its mid-November peak and is now testing a support level at $0.120.

The strength of this support zone is crucial in determining the future direction of SEI’s price. If the support holds, there could be a potential reversal. If the price fails to hold the support, further downside movement may be possible. Market participants are closely monitoring the price action around this critical level for signs of any shift in momentum.

Potential for a Double Bottom Pattern

Moreover, technical indicators show that SEI is forming a double bottom pattern, which is often seen as a bullish reversal signal. The second bottom is currently being printed near the $0.13 level, which traders see as a sign that the market could be preparing for an upward move.

Based on BitcoinSensus, if this pattern fully develops, some market experts suggest that SEI could reach much higher price levels, with a target of $0.58 being mentioned. However, this is contingent on a successful breakout and sustained upward movement.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.