Analyst Says SEI Is Breaking Out, Shares Critical Make Or Break Levels

According to crypto trader Teshkid, the Sei Network’s native token SEI has broken out today, presently up close to 11% at $0.79. Having recently regained its uptrend, he flags $0.7891 as the next major upside target, which also corresponds to critical resistance.

Beyond that, clearing the all-time high around $0.8865 should spark a massive vertical move as overhead supply remains quite limited before the psychological $1 whole number level.

SEI Traders Enjoying 237% Gains Over Past Month

Per CoinGecko data, SEI buyers over the past 30 days have already netted impressive returns of almost 240% amidst the resurgent crypto bull market. 

If the latest buying momentum can sustain and decisively flip $0.79 to support as flagged, SEI appears on course to eclipse its former glory in short order with three figures firmly in its sights.

Major Pullback Unlikely But $0.63 Provides Cushion

While Teshkid doesn’t anticipate a breakdown in the works barring any unforeseen black swans, he still advises keeping an eye on $0.63 as the nearest strong support zone should SEI lose steam short-term.

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This area matches prior resistance and horizontal support along with the 50-day exponential moving average, forming reliable backup before a buy zone between $0.54 and $0.47.

With fundamentals and on-chain activity also demonstrating renewed traction for the multi-chain network targeting enterprises, the odds remain favorable technically for continuation. Patient accumulation still warrants consideration around any dips.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

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