SEI Price Prediction: Is SEI on the Verge of a 10x Surge? Here’s What the Chart Reveals

The crypto market shows SEI might be ready for a big price jump soon, based on chart analysis. By looking at support levels and price patterns, there are signs that SEI could move up significantly in the coming months.

SEI, the blockchain focused on decentralized exchange technology, is showing signs of potential for a strong price recovery in the coming months, according to a recent chart analysis by Crypto Patel.

SEI has been forming a rounded bottom pattern on the 3-day chart, suggesting that sellers might be getting exhausted, setting the stage for buyers to take over.

“The price has been in a downward trend since March 2024, and it seems to be forming a bottom around the $0.13-$0.15 area. This zone is important because it offered support before, as indicated by high-volume trading and price consolidation in late 2023,” the analyst says.

The analysis shows that at least three times the price tested this zone from above and met resistance, but on all occasions, buyers managed to push back when the sellers pushed the price below the support zone.

“The chart shows wicks forming at this level as buyers are coming in to defend it. This is also the area where we saw the price stall during its descent and begin to flatten out, hinting at a potential shift in momentum.”

If this support breaks down, then the next zone to watch is the $0.10-$0.09 area, which also saw some support earlier in 2024.

“As we move into 2024, we can observe the formation of lower highs and lower lows, which is classic bearish territory. However, if we zoom out further, we can see a bigger trend of higher lows since the beginning of 2024, which could be setting the stage for a return to bullish conditions.”

A key level to watch is $0.22, which Patel calls a “Change of Character” (ChoCh) point on the 3-day chart. Closing above this level would be a technical confirmation of a shift from bear to bull on the higher timeframe.

“This $0.22 mark is also relevant as it would fully complete the accumulation phase, setting the stage for a sustained upward move. A break above the downward trendline connecting recent lower highs and moving past $0.22 would strongly suggest the beginning of a bullish trend.”

According to the analysis, breaking and closing above $0.22 would be crucial for confirming a trend change.

“If the price can manage to bounce from current levels and break above the trendline, it would further strengthen the case for continued upward movement. Breaking above the trendline would carry even more weight if it happens after a close above $0.22.”

After breaking above $0.22, SEI would encounter several resistance levels at $0.26-$0.28, $0.40-$0.50, $0.71, $1.04, and $2.01.

These resistance levels are crucial to watch as they could determine the strength and speed of SEI’s recovery.

According to the analysis, technical indicators suggest a potential target of around $2.20, or possibly even $5, based on extending the Fair Value Gap and Fibonacci projections.

A move from $0.15 to $2.20 would amount to a 1,050% gain, offering a 10.5x return to those who buy at the support.

However, it’s important to note that these are just estimates, and the actual price movement might deviate due to market conditions and other factors.

The analysis also takes into account the possibility of further downside.

“If the $0.13 support breaks down, then we could see a move toward the $0.10-$0.09 support zone. Even with a deeper pullback, the overall structure could still support a bullish outlook in the medium to long term, setting the stage for an interesting recovery from lower levels.”