• Chart patterns mirror historical breakout setups, signaling a consolidation phase before a possible strong upswing.
• SEI shows 200% upside potential, with analysts targeting a breakout rally toward $1.15 from current levels.
• Investor sentiment is overwhelmingly bullish, with 84% of voters expecting continued price growth.

Sei (SEI) is showing strong potential for an upward momentum as the crypto market is turned from bearish to bullish with BTC’s upward momentum. The SEI price over the last 24 hours is stable but up 4.98% over the last week.

At the time of writing, SEI is trading at $0.2970 with a market capitalization of $1.82 billion. Its trading volume also surged 19.47% to $180.11 million, reflecting that both traders and investors are taking new positions for a potential breakout.

Source: CoinMarketCap

SEI Price Setup Signals 200% Upside Potential

Moreover, the crypto analyst, Ali, revealed that SEI now displays distinct breakoutable signs for potentially breaking through the chart barrier as analysts target a sharp jump all the way up to $1.15, an outcome that will provide almost 200% returns when calculated from current prices. 

Traders also note the fact that SEI’s chart presents an exact replica-like picture of the breakout configuration chart where prolonged consolidation periods for long times precede big upswings.

Source: X

Most market observers think the present stage is a significant early accumulation phase, providing the investor additional time to position before broader market attention fully shifts to the token. With steam continuing to gather speed and positivity gaining momentum, the SEI may be positioning itself for one of its largest positive movements in the developing altcoin landscape.

Also Read: Sei (SEI) Gains Momentum: Faster Market Action Hints at $0.60 Breakout

SEI Technical Indicators Provide a bullish outlook

The Bollinger Bands (BB) show that Sei’s price has been fluctuating within the bands, indicating periods of volatility. Recently, the price is testing the upper band, suggesting the possibility of a breakout or continued upward movement. The current price is $0.31201, reflecting an attempt to move higher.

Source: TradingView

The RSI stands at 57.13, indicating neutral circumstances where both buying and selling pressures are balanced. The MACD lies higher than the signal range, so the momentum looks positive. Nevertheless, the bars of the histogram, decreasing in volume, indicate declining momentum. In general, the signs indicate the healing stage but require attention for possible reversal.

SEI Sentiment Dominates With 84% Bullish Votes

According to the data from CoinMarketCap, the current sentiment among the community is an adamant and clear-headed bull run, where 84% of the participants feel sure and positive. In the total 96.4K votes cast, the vast majority feel the market trend will just keep going up. It indicates a strong belief in growth and opportunity in the future.

Source: CoinMarketCap

Conversely, just 16% of voters feel bearish as an indicator of anticipated potential falls or corrections. Though an outright minority, the faction still enjoys the position of being prudent and observant on the part of some participants. Their existence also indicates that risk, doubts, and potential problems are still being acknowledged.

Also Read: SEI Targets $0.30 As Network Volume Surges Beyond $156 Million Mark