- SEI/BTC consolidates in an accumulation range; breaking 800 sats may signal a trend reversal and new highs.
- Resistance at 800 sats remains a key barrier; sustained buying momentum could push SEI into a bullish breakout.
- RSI and volume suggest balanced conditions; support holds critical importance for SEI's potential upward movement.
SEI continues to consolidate against Bitcoin, maintaining its position within a defined accumulation range. The chart shows a prolonged range-bound movement after an earlier surge followed by a steep decline. Market analyst Michaël van de Poppe emphasized that SEI has yet to break out significantly. Once the price clears 800 sats, a new all-time high could follow.
The SEI/BTC chart illustrates this development. Initially, the trading pair witnessed a sharp upward rally, signaling strong buyer momentum. However, the price retraced sharply, driven by profit-taking and a gradual weakening in demand. After this decline, the pair stabilized and entered a consolidation phase, repeatedly testing a key horizontal support level. This support zone proved critical, as buyers consistently prevented further downward movement.
Source: Michaël van de Poppe
Resistance Zone Remains a Key Barrier
During its recent price action, SEI reclaimed the support level, renewing buying interest. Consequently, the price attempted to test a resistance zone, highlighted in red on the chart. This resistance area previously acted as a supply level, triggering downward movements whenever tested. However, buyers failed to push the price above this barrier, resulting in another rejection.
Michaël van de Poppe points out that the 800-sat level serves as a critical threshold. A breakout above this resistance could signal a new trend reversal. Additionally, the upward momentum may attract increased participation from buyers. If SEI clears this zone, it could confirm a bullish outlook, potentially paving the way for price discovery and new all-time highs.
RSI and Volume Indicate Balanced Market Conditions
The relative strength index currently hovers near neutral levels, reflecting balanced market conditions. Earlier, the RSI approached overbought territory during the price test of resistance. However, it retraced, signaling a reduction in buying momentum.
Volume data further highlights moderate trading activity during the support reclaim. Increased participation near the support level underscores its significance. If SEI maintains this foundation, further upward attempts could follow.
Moreover, a failure to hold this support could lead to renewed downside pressure. However, sustained movement above the resistance zone will validate a bullish breakout. Traders closely monitor these levels as SEI hovers at a decisive moment. The market awaits confirmation of a trend reversal.
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