SEI is starting to look lively again. After spending weeks sliding lower inside a wedge pattern, the token has finally broken out and begun moving higher.
Right now, the SEI price is trading close to $0.2979 after reclaiming some important support zones, and traders are wondering if this run has enough fuel to reach $0.37 in the short term.
The big shift came when SEI broke out of a descending wedge that had been pressing the price down since mid-August. These kinds of setups often end with a strong move higher, and that seems to be what we’re seeing play out now.
The buyers entered at the $0.28 to $0.29 area, and that bounce flipped the sentiment in the bulls’ direction. From then on, SEI was able to retake the $0.30 level, which is the very important one because it sits on top of the 0.618 Fibonacci retracement.
Holding above that line is critical, as it sets up the move toward $0.32. If momentum keeps building, the path toward $0.37 starts to look much more realistic, exactly as analyst Ali Martinez suggested.
What you'll learn 👉
SEI Price Support and Resistance Levels to Watch
In the near term, $0.28 is the level everyone is keeping an eye on as the main support. A slip under it could drag SEI back to $0.27 and weaken the bullish picture. On the other side, the $0.30 zone is the first hurdle to clear.
If SEI price can keep closing above that level, it strengthens the case for another push to $0.32. Clearing both of these areas would put the market in a strong position to make a real attempt at $0.37.
The reason traders are so focused on $0.37 is that it lines up with several important signals. It’s the breakout projection from the wedge pattern, which makes it a natural target. It also matches a Fibonacci retracement level from the earlier decline, so it’s a spot where traders expect the price to react.
Beyond the technicals, $0.37 carries psychological weight too. It was a reversal point during the last sell-off, so breaking through it would confirm that SEI has shifted from drifting sideways into a proper bullish trend.
SEI Market Sentiment and Momentum
The breakout hasn’t gone unnoticed. Volumes have been climbing as SEI pushes higher, showing that buyers are stepping in with more conviction. Sentiment across the broader market is also improving as money rotates back into altcoins after a sluggish August.
Momentum indicators add another layer to the story. On the 4-hour scale, RSI is increasing steadily but hasn’t crossed into the overheated area. That means there’s still space for the rally to continue running longer before the traders start to fret over a pullback.
Read Also: Here’s Why WLFI Price Is Pumping Today
SEI Price Outlook
SEI’s breakout looks convincing, and the rally has enough support to keep building if buyers can hold the $0.30 line. The first milestone ahead is $0.32, but the real test will be whether bulls can push through to $0.37.
If that happens, it would mark a major shift in trend and give SEI price a much stronger footing heading into the rest of September.
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