SEI Price Faces Critical Resistance: Will Bulls Break Through?

SEI exhibits mixed price movements, as noted by crypto analyst Crypto_Jobs. At $0.4119, SEI faces resistance at crucial levels, but maintains a bullish mid-term outlook.

The analysis suggests both bullish and bearish scenarios in the short and mid-term, with critical support and resistance levels determining the trajectory.

Resistance Levels at $0.4200-$0.4250

A key resistance zone exists between $0.4200 and $0.4250, representing the 50% Fibonacci retracement level and aligning with the daily neutral zone within the Ichimoku Cloud system.

Prior support at this level has shifted to resistance, indicating a potential bearish retest if SEI fails to exceed this range. Without bullish momentum pushing the price above $0.4200, the token may face short-term bearish pressure. A bearish rejection around this resistance could trigger consolidation or a downward trend.

Support at $0.3600 Remains Untested

On the downside, SEI has a crucial support level at $0.3600 that has yet to be tested. This level is seen as significant for a potential pullback if the price encounters resistance at the current levels.

Despite the bullish mid-term outlook, there is uncertainty about whether SEI will test this support before resuming its upward trajectory. Traders should be cautious of the possibility of a retest in this support zone before further bullish momentum.

Short-Term Bearish Setup on Lower Time Frames

On shorter time frames, such as H1 and H4 charts, SEI shows signs of a potential bearish setup. Crypto_Jobs suggests possible consolidation or downward movement in the immediate term, particularly if the token fails to break the $0.4200 resistance.

The price appears stuck below a downtrend on these time frames, indicating the need for bulls to gain strength for any significant upward movement. Despite these short-term concerns, the mid-term outlook remains positive, contingent on the price's ability to break through key resistance levels.