The price of SEI has been trading within a descending channel pattern since January, with the upper part of the channel forming consistent resistance and the lower part support.
Now the price is at the top of the pattern, and World of Charts is saying a break could occur which could trigger a more than 200% rally.
The Relative Strength Index (RSI) on the daily chart is at 53, which shows that there is a lot of room to run in case the price breaks out before it gets overbought. The RSI figure also supports the possibility of a rally.
Fantom (FTM)
The price of FTM is also following a similar trajectory as SEI. It has been trading within a descending channel pattern since March, bouncing off the boundary as resistance and support multiple times.
The price is also now at the top of the channel, and if a breakout happens, we could see a major surge to the top of the channel at around $1.2, which will be more than a 130% price increase.
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Of course, there will be some resistance on the way. The price will need to break above major resistance levels at $0.6, $0.88, and $1.03.
The RSI level is at 65, suggesting there is little room to run before a pullback.
Also, it is good to note that a breakout above the resistance of the descending channel is needed before the chance of any major rally.
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