SEI Surges Past Resistance: Is $0.30 the Next Target for Bulls?
- SEIs breakout above resistance signals potential for a move toward the $0.30 target with strong momentum.
- Increased trading volume confirms SEIs breakout is genuine, with support now forming at the $0.18 level.
- RSI indicates bullish momentum as SEI eyes the $0.30 resistance; support at $0.18 remains crucial for the trend.
SEI has recently witnessed a major price breakout, turning an important resistance level. The upward movement indicates that the coin can now actually go for the $0.30 level. This is a turning point in price action, and traders are closely watching for any indications of continuation into bullish.
Michael van de Poppe indicates that SEI has pierced through a resistance zone, and the dotted line is a former barrier that has now become support. The volume bars placed below the price action indicate that there is an increase in trading activity, indicating that more participants are coming into the market. This volume boom provides reasoning behind the fact that the breakout is real, not fake.
Source: X
RSI Indicates Bullish Momentum
The RSI indicator is moving high at the top of the chart as an indication that momentum is still with the bulls. The RSI is exiting the overbought zone but is yet to fill if the upward movement attains. This indicates that further rise can be experienced provided the token can break through the next key resistance level at $0.30.
Support levels are also critically important in determining SEIs potential for continuity. The analysis indicates that the coin has found strong support at a lower level of about $0.18. This support level has been strong in past pullbacks and is a good base for a rally. If the price falls back, the $0.18 support zone should serve as a solid area of re-entry, preventing a deeper correction.
SEO Bullish Momentum and Risk
Whether the token can break through the $0.30 resistance level, a key technical and psychological barrier. If SEI breaks this level, the next resistance target is higher. If the coin is able to keep the momentum upwards, that would be a greater bull phase. As of now, the token is trading at $0.2363, showing a 12% increase over the past day.
Source: TradingView
Sustaining the bull trend will be dependent on maintaining support at the $0.18 level as SEI increases. Failure to maintain this support could be a possible pullback or correction down to lower levels. But, given the current momentum and increasing interest from the market, SEI is still in a good position for an additional rise.
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Read more: https://www.tronweekly.com/sei-surges-past-resistance-is-0-30-the-next/
Text source: TronWeekly
