SEI has gained momentum following a major trendline breakout, sparking bullish expectations among traders. Analysts are watching key levels as the cryptocurrency trades 4.57% higher today, with trading volume surging by 28.14%. Crypto experts Crypto Faibik and Michaël van de Poppe have shared insights on SEI’s potential trajectory, citing liquidity movements and technical breakouts as key drivers.
Technical analysis of SEI’s price on the daily timeframe reveals a break above a descending trendline, which had previously confined price action. This development is considered a bullish reversal signal, indicating a potential shift in momentum.
Veteran analyst Crypto Faibik highlighted the breakout in a tweet, stating, “$SEI Major Trendline Breakout on the daily timeframe.. ✅ Expecting a +60-70% Bullish Rally… 📈”. The analysis suggests that if SEI’s price is above the trendline, the next upside targets could align with the 1.618 Fibonacci extension level, potentially leading to a 60-70% rally.
Traders are monitoring whether the breakout level can hold as new support, which would reinforce the case for continued upward movement. If the SEI price fails to sustain above this zone, a retest of lower levels could follow.
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Liquidity Sweep Strengthens SEI Bullish Outlook
Another perspective comes from Michaël van de Poppe, who pointed out that SEI’s price swept liquidity at key support levels before rebounding. The liquidity movement suggests that stop losses were triggered, leading to a flush-out of weaker hands before a potential recovery.
His tweet stated, “One of the few assets that continues to show strength, while the remainder of the markets are trending downwards: $SEI. Took the liquidity and continues to go up. I’m expecting that, after the liquidity has been taken, the low should be in.”
This observation implies that SEI’s price may have established a bottom, which could set the stage for further gains if market conditions remain favorable.
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SEI Key Support and Resistance Levels to Watch
The breakout trendline now acts as support. Holding this level would confirm strength. The next targets include previous swing highs, particularly at $1.50 and $2.00, which align with the Fibonacci extension target.
Traders remain cautious of a potential fake breakout, which could lead to a return toward previous lows if momentum fades. However, with increasing volume and sustained buying pressure, SEI’s price appears positioned for a continuation toward higher levels.
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