• SEI is still trading above its $0.288 support level at $0.2982 with strong daily volume.
• The token’s triangle consolidation is an indication for a short bounce towards $0.345.
• Continuing adoption and steady build-up show a long-term movement towards $5.

SEI, the native token of the Sei blockchain, is holding its position above its support zone, putting itself in line for a potential bullish reversal. With the entire crypto market rebounding out of a pullback, SEI is in a prime position to catch bullish momentum.

At the time of writing, SEI is priced at $0.2982, backed by a 24-hour trading volume of $198.8 million and a market capitalization of $1.79 billion.

Despite a marginal 0.49% decline over the last 24 hours, the token has gained nearly 3% in the past week, indicating steady buying interest around current levels.

Also Read: Sei Network Ecosystem Activity Boosts, SEI Eyes Toward $5 Mark

SEI Eyes Rebound Toward $0.345

From a technical perspective, SEI is in a process of consolidation in a triangle pattern, a pattern that in many cases precedes major price movement.

Analysts note a $0.288 support level as a key barrier. Support at this line might provide a base for a reversal up towards $0.345, which would indicate a start for a short-term bullish breakout.

SEI Eyes Long-Term Move Toward $5 

For the longer term, SEI is still in focus amid building momentum throughout its network. The token is positioned above a key support area with major indicators skewed bullish.

Adoption on the Sei blockchain is gradually picking up, and participants are watching keenly how such expansion can play out in price action.

As long as momentum holds up, SEI’s configuration is considered favorable for a bigger rally, which would take it further towards the $5 level in the coming months.

SEI Positioned for Next Major Rally

The Sei blockchain, designed for scalability and speed, has carved a niche for itself in the trading and DeFi segment.

As sentiment in altcoins continued to rise in the longer term, SEI’s strong fundamentals combined with its bullish technical configuration made it a token worth watching.

Currently in a consolidation phase above support and showing early signs of a bullish accumulation, SEI is about to transition out of sideways movement into a breakout phase, potentially marking the beginning of its next major rally.

Also Read: SEI Price Prediction: Will It Break $1.14 or Fall Below $0.23?