- SEI has surged 50% in a week, reaching a 4-month high and nearing the key $0.30 resistance, signaling a possible end to its 5-month Death Cross.
- If it breaks this level and triggers a Golden Cross, SEI could rally further, but failure to hold support may reverse its bullish momentum.
SEI is back in the spotlight after a powerful 50% rally this week, pushing the altcoin to a 4-month high and generating renewed investor interest. The surge in price has brought SEI to the doorstep of a key resistance level at $0.30, and a successful breakout could mark the end of its prolonged downtrend, known as a Death Cross.
Network Activity Fuels Momentum
The recent price action is backed by rising network activity. Daily transactions on the SEI blockchain have tripled over the past three months, with activity recently peaking at 1.6 million transactions in a single day. This growth signals increasing demand and user confidence in SEI’s ecosystem.
As adoption rises, more investors are turning to SEI, betting on its long-term potential and positioning for continued gains. The increase in on-chain activity is seen as a strong foundation supporting the recent price movement.
Approaching a Technical Turning Point
Since January, SEI has been trapped in a Death Cross, a bearish technical pattern where the 50-day EMA (exponential moving average) stays below the 200-day EMA, suggesting long-term weakness.
However, the latest price surge has started to lift the 50-day EMA, creating the possibility of a Golden Cross, a bullish reversal where the 50-day EMA crosses above the 200-day EMA.
This potential crossover would be a significant indicator that the altcoin’s downtrend may finally be ending. A Golden Cross often attracts more traders and institutional interest, boosting confidence in further upside.
Resistance and Risk Levels to Watch
Currently trading at $0.29, SEI is on the verge of testing the crucial $0.30 resistance level. If it breaks above and secures this level as support, analysts believe SEI could target $0.35 in the short term.
A move beyond this threshold would confirm a bullish breakout and signal the start of a sustained uptrend.
However, investors should remain cautious. If profit-taking sets in, SEI could pull back to $0.27, and a further drop to $0.24 would invalidate the current bullish scenario. Such a correction would signal that momentum has weakened, potentially dragging the price back into bearish territory.
SEI’s 50% rally has put it within striking distance of ending a five-month Death Cross, supported by a surge in transactions and improving technical indicators. If the altcoin can break above $0.30 and sustain its momentum, it could enter a new bullish phase. But failure to hold key levels may lead to renewed selling pressure. For now, all eyes are on SEI’s next move at the $0.30 mark.