- SEI surged 30% in 24 hours, breaking above the 200-day EMA resistance at $0.26 after months of sideways movement.
- Supertrend indicator flipped to green, signalling a bullish momentum shift from a strong support base around $0.17-$0.20.
SEI price is showing strong bullish signs on various technical indicators, surged by 30% in the last 24 hours, and broke above the 200-day EMA. As per CMC data, SEI is trading at about $0.2639 and seems to be gearing up to make a major upward movement after months of sideways movement.
The most interesting change is the recent change of the Supertrend indicator to green, which is a clear sign of a change of momentum to bullish. This turnaround was since the price had managed to hold major support at around $0.17-$0.20, and this formed a strong base for the current rally.
The colour change of the Supertrend is usually an indication of a significant change of mood in the market, and it is often followed by a prolonged price movement.
A decisive technical arrangement is forming as SEI breaks above the 200-day exponential moving average, which is now at the level of approximately $0.26. The price has been lingering under this important long-term resistance over the past few months, and a clear break above it suggests a strong buyer’s presence.
The 200-day EMA is a significant psychological and technical resistance, and its break probably draws more buying attention from both retail and institutional investors.
What’s Next For SEI Price?
Supporting indicators are in a favourable position with regard to the price action. The RSI indicators indicate a healthy momentum that is not in overbought territory and therefore has more upward potential. In the meantime, the MACD indicator is showing positive divergence as the MACD line and signal line are moving upward, and the histogram is indicating the rising bullish momentum.
Risk management-wise, the recent swing low at around $0.20 is a rational stop-loss point for bullish positions. If the price sustains above the 200-day EMA, it may trigger the next major rally towards the price levels of $0.35-$0.40, which would translate to a 30%-50% potential gain at current prices.
The combination of several bullish indicators like Supertrend reversal, 200-day EMA breakout, positive RSI momentum, and MACD confirmation forms an attractive technical picture of the possible upward trend of SEI in the near future.
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