Sei (SEI) Testing Key Falling Wedge Support: Will It Make a Bounceback?
Date: Tue, Jan 28, 2025, 06:12 PM GMT
The cryptocurrency market is witnessing a strong recovery after yesterday’s sharp decline. Bitcoin (BTC) dropped to a low of $97,795 but has since rebounded to $103K, helping major altcoins regain momentum.
Following this trend, Sei (SEI) is also showing signs of a rebound, currently trading at $0.3103. However, despite the recent uptick, SEI still remains in the red with near 25% monthly decline.

A promising technical pattern, however, suggests that a potential bullish reversal could be on the horizon, as highlighted by chart analyst @bitamberly.
Analyst Insight
According to @bitamberly, SEI is bouncing off the lower boundary of a falling wedge on the 12-hour timeframe, a pattern that often signals a potential breakout to the upside. The support area around $0.30 to $0.3150 is holding strong, increasing the likelihood of a bullish reversal.

If SEI confirms a breakout above the falling wedge, the next key price targets could be $0.37, $0.42, $0.48, and ultimately $0.55, where a major resistance level lies. The 50-period moving average (MA 50) is currently acting as dynamic resistance, and breaking above it would further strengthen bullish momentum.
Technical Outlook
The volume profile shows a buildup of demand in the support zone, suggesting that buyers are stepping in. Additionally, the falling wedge formation is nearing a breakout point, with historical price action indicating that such patterns often result in strong upside moves.
If the support area holds, SEI could see a gradual recovery, with a potential breakout triggering a move towards higher resistance levels. However, failure to hold support may lead to a retest of lower levels before any substantial upward movement.
Final Thoughts
Sei (SEI) is at a crucial juncture, with a falling wedge pattern suggesting a bullish breakout could be imminent. The price action around the support zone is being closely watched, as a strong bounce could confirm the start of a new uptrend. If SEI manages to break above the wedge resistance, it could rally towards $0.37, $0.42, $0.48, and $0.55 in the coming weeks.
As always, investors should exercise caution and conduct their own research before making any trading decisions.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Norwegian prosecutors charge four people with $87 million cryptocurrency investment fraud
Sol Strategies, a Canadian listed company, increased its holdings of 12,456 SOL
GNOUSDT now launched for futures trading and trading bots
GOUT PUMP Launches First Celebrity Coin, Driving Innovation and Investment
Trending news
MoreCrypto prices
More








