$0.23 Critical Level in Focus

Key Insights:

• SEI forms a five-wave pattern, with traders eyeing a reversal at the $0.1189 resistance zone.
• Weekly chart shows $0.23 50W SMA as key resistance; breakout may shift long-term trend.
• Volume and structure support active trading interest while $0.11 holds as short-term price floor.

SEI was trading at $0.1166 today, showing a 4.2% rise in the last 24 hours. Over the past week, the token has gained 5.8%. Daily trading volume reached $36 million, suggesting active interest in the asset.

While SEI has posted short-term gains, it remains below the 50-week simple moving average (SMA) at $0.23. This level has acted as a strong barrier on previous attempts to move higher. The market is watching closely to see if SEI can reclaim this level.

Weekly Chart and Long-Term Trend

The weekly chart shows a steady downtrend since early 2024. Price has formed a series of lower highs and lower lows. A downward trendline connects these points and continues to define the longer-term setup.

SEI was sitting near $0.11, which has acted as a support level in recent weeks. The 50-week SMA at $0.23 remains the main resistance. “A break could trigger a strong rally,” Ali Charts said earlier, pointing to this line as a key marker for trend change.

Short-Term Structure and Trade Setup

In the short-term chart, SEI is forming a five-wave structure. Waves i through iii have played out, with wave iv now in progress. A move to $0.1189 is expected as wave v completes.

This zone overlaps with a supply area, where sellers were active before. According to Rami Hijazi, a short trade has been set with entry at $0.1189, stop-loss at $0.1210, and target at $0.1154. “Expecting bears to step in for a corrective move lower,” he noted, pointing to the end of the impulsive move.

What to Watch Moving Forward

The $0.23 level remains the key focus. A close above this point may open the path to higher areas, with previous chart levels at $0.65 and $0.95 serving as possible targets. Those levels depend on whether the long-term downtrend ends.

On the downside, $0.11 continues to provide support. If price fails to hold here, pressure may return. Until $0.23 is broken, the market remains in a neutral to bearish structure, with short-term rallies viewed as tests of resistance.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.