Crypto Price Breakout Rally: Bulls Target $0.37 for Sei Crypto

Sei crypto breaks out of a descending wedge, signaling a potential breakout rally. Bulls are targeting $0.37, but resistance remains.

Crypto Price Breakout Rally: Bulls Target $0.37 for Sei Crypto

After weeks of sideways movement, Sei crypto has finally broken out, sparking excitement among traders. Is this the beginning of a sustained rally? Let's dive into the details.

Sei Crypto's Bullish Breakout

Sei crypto is gaining attention after breaking out of a descending wedge pattern, often a precursor to sharp reversals. Analyst Ali highlighted the move, noting that the price retested the breakout zone around $0.28–$0.29, transforming previous resistance into support. This retest strengthens the bullish outlook, indicating growing buyer confidence.

Resistance Levels and Breakout Path

The wedge breakout has paved the way toward Fibonacci retracement levels. The price has already tested the 61.8% level near $0.30, a zone known for stiff resistance. If the momentum continues, traders are eyeing the 78.6% retracement near $0.32 and the prior highs around $0.37 as the next key targets.

Whale Activity and Market Conditions

Whale activity surrounding Sei has been muted but steady, with large wallets showing early signs of accumulation on dips. Their involvement is being closely monitored, as increased inflows from major holders could accelerate the push toward the $0.37 zone before December. BraveNewCoin data indicates the coin is trading near $0.29, up approximately 3% in the last 24 hours. With a market capitalization of $1.77 billion and $115 million in daily volume, Sei maintains healthy liquidity.

Indicators and Momentum

Currently priced around $0.2995, Sei is consolidating after retesting its breakout zone. The daily candlestick structure shows higher lows forming, a positive sign that buyers remain active. The Relative Strength Index (RSI) sits at 50.40, reflecting neutral market momentum. The MACD paints a cautiously bullish picture, with the histogram slightly positive at 0.0009, hinting at a potential shift toward upward momentum.

Potential Pullbacks and Short-Term Volatility

Despite the optimism, traders remain aware of short-term volatility risks. Indicators like MACD divergence and recent taker sell volume suggest possible pullbacks. However, the wedge breakout provides a bullish framework unless the price collapses back below $0.28 support.

Final Thoughts

Will Sei crypto reach the $0.37 target? Only time will tell. But for now, the breakout has certainly injected some excitement into the market. Keep an eye on those resistance levels and watch for whale activity – it could be a wild ride! So, buckle up and enjoy the show!