SEI Price Surge: 80% Recovery with Key Resistance Levels and $1 Target
SEI has shown signs of recovery and a detailed analysis of the market value changes in the past days is imperative to identify key technical levels. Cryptophobic indicates that SEI has recovered up to 80% from its recent low after holding key technical levels. This increase came after the token had been bought in an accumulation zone which many traders had seen as an opportunity to buy.
In an earlier analysis, the support range for SEI was seen as being between $0.227 and $0.280, a region that has played a critical role in the current stabilization of the coin. Having held these levels with remarkable steadiness, SEI was back in the upward swing in a big way.
Nevertheless, the coin is encountering strong resistance at $0.30 and $0.35 levels that needs to be breached for more upward pressure to be realized. Breaking through this barrier may lead to the further increase of the price target within the nearest future.
SEI Price Level To Watch
The $0.30 to $0.35 Scope is considered to be a major drawback. If SEI clears this level, it would endorse the following bullish phase and open the door for higher trends. At the same time, weaknesses that may hinder the break through this barrier may cause it to slow down and there is possibility of a price drop. These levels are very significant because they help the investors in determining the future movement of the coin in terms of price.
Down under, SEIs support zone remains between $0.227 and $0.280. This range is important in sustaining the recent rise. A break below this level may undermine the positive outlook and open the way to further declines that may precipitate a market-wide selloff. Traders are careful about this level, considering it as the key to the further improvement of SEIs performance.
The examination also presents a long-term objective of $1, provided that the current price can surpassed the $0. 35 resistance. Achieving this level would raise its current price significantly but the journey to $1 will be dictated on SEIs capacity to break through resistance and sustain support.
From the findings of this analysis, investors are encouraged to do their work and consider the risks that come with it. The coming days would be crucial in understanding if the positive trend of SEI is to be continued or if the company is to encounter some difficulties. Thus with key levels in focus the market would be waiting to see how the coin would perform.
Read more: https://www.tronweekly.com/sei-price-surge-80-recovery-with-key-resistance/
Text source: TronWeekly
