SEI Gains 15% and Escapes Downtrend — Next Price Targets to Watch

Key Takeaways

• SEI’s price has increased by 15% after hitting a yearly low of $0.18 about two weeks back.
• Indicators like MFI and CMF suggest growing buying pressure and bullish momentum.
• SEI will likely break the $0.39 resistance to sustain its recent rally and move higher.
• Interested in buying or selling SEI? Read our review of the best exchanges to buy and sell SEI.

SEI’s price fell to a yearly low of $0.18 on March 10 amid fears that the altcoin had collapsed into a bear market phase. However, the token of the layer-1 modular blockchain project has increased by 15% since then.

This price increase helped SEI bounce to $0.21. Will the token sustain this rally and push higher, or is this just a temporary bounce before another downturn?

SEI Reversal Underway

Less than three months after SEI’s price spiked to $0.60, the altcoin experienced a correction to $0.18. Nearly twenty days later, its market value climbed by double digits.

According to the daily chart, the breakout happened after it breached the upper descending trendline. This trendline had previously kept SEI’s price trapped in a bearish pattern.

Amid the recovery, the Money Flow Index (MFI) has risen to 57.59. The MFI uses price and volume to measure the flow of capital in and out of a cryptocurrency.

A declining MFI signals increasing selling pressure, while a rising MFI — like SEI — suggests growing buying volume. Therefore, if the MFI continues to climb, SEI’s price may continue to follow the same direction.

Like the MFI, the Chaikin Money Flow (CMF) reading has also broken above the zero signal line. The CMF is similar to the MFI as it measures the level of accumulation or distribution around an asset.

Thus, if the CMF rating continues to climb, SEI might sustain its bullish outlook.

More Hype, Higher Price?

From an on-chain standpoint, the social dominance also reveals that SEI’s price might continue to climb. Social dominance gauges the level of conversation related to a cryptocurrency.

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Spikes in this metric indicate growing interest and discussions about the asset, while a decline signals waning attention.

According to Santiment, SEI’s social dominance has climbed to 0.22%. If this trend continues, it could boost demand for the token and potentially drive another price increase.

SEI Price Targets Golden Ratio

Regarding its short-term targets, the Moving Average Convergence Divergence (MACD) shows that SEI’s price might continue to rise. This is because the MACD reading has jumped to the positive region.

The positive MACD rating indicates bullish momentum. Should this reading remain the same or trend higher, the altcoin’s value might breach the resistance at the 0.786 Fibonacci level.

If validated, SEI’s price might rise to $0.39, near the 0.618 golden ratio.

On the contrary, failure to break the overhead resistance might invalidate this prediction. In that scenario, the cryptocurrency’s value might drop to $0.17.