SEI Technical Analysis

As of writing, SEI ranks 73rd on the CoinMarketCap list with a market capitalization of $1.06 billion.

SEI Tech Analysis

SEI started trading in August 2023. After an initial correction, the asset's price showed the strongest growth. In just a few months, SEI rose more than 10-fold, from $0.095 to an all-time high (ATH) of $1.14 reached in March 2024. At the time of the impulsive rise, several trading zones were formed, including the important area between the $0.20 and $0.30 levels, as well as key support and resistance levels.

This growth coincided with a general rise in the altcoin market, after which the asset entered a correction phase. During the correction period, all previously formed levels confirmed their significance. The market received a strong reactionfrom the level of $0.20, where buyers became active, which led to a local growth to $0.67.

After several unsuccessful attempts to break through the $0.67 level, the price went into correction again and formed a downtrend, the trend line of which acts as an additional resistance. At the moment the asset is trading between the key levels of $0.20 and $0.30. The $0.20 level has previously stopped the fall, which makes it an important zone for buyers. The $0.30 level is a strong resistance, which limits the growth of the asset for now.

In the first days of February 2025, there was a sharp fall of the entire crypto market, against which SEI tested the $0.20level, collected liquidity below and left a long wick on the daily timeframe. There was a surge of volumes on these days, which indicates the strength of buyers, ready to defend this level.

Such wicks are often retested at 50% or updated slightly before the price reverses. If we use the Fibonacci levels on the wick, we can see that the price has now stopped at 0.38, and the levels of 0.5 and 0.61 can act as support in case of further decline.

SEI Price Prediction

First, let's additionally consider the situation from the point of view of Elliot waves. According to this analysis, the first impulse wave (1) ended at ATH ($1.14), the correctional structure in wave (2) was formed in the form of three waves A-B-C.

After the completion of the correction, a new impulse wave (3) is expected to form, which could take the price to levels above ATH. However, it is important to remember that wave analysis is subjective and requires confirmation by other technical signals.

If current conditions persist, it can be assumed that SEI may find strong support and turn around in the near future. Perhaps, a double bottom will be formed near $0.20 with subsequent growth.

For a conservative approach, it is better to wait for a clear confirmation of the buyers' strength, breakdown of the key resistance, and exit from the downtrend.

The first targets for growth will be the levels of $0.30, then $0.48, $0.67 and $0.82 - near each of them there may be a short consolidation in order to accumulate strength before the breakdown.

Breakdown of $0.82 level will send the price to ATH. But to be sure of the reversal, we need confirmation, which will appear after the breakdown of the downtrend line and consolidation above $0.30.

You can read our comprehensive fundamental analysis of the Sei Network here.

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