Key Takeaways
- Technical analysis of higher and lower timeframes confirms strong bullish price action of the SEI token.
- SEI sees an over 60% rally as crypto experts share expectations of price action breaking above $1.
- Technical indicators and market sentiments shift from bearish to bullish, indicating strong bullish momentum.
The cryptocurrency market has experienced significant price fluctuations over the last few days, with altcoins, including Bitcoin, as the price of BTC crashed from its high of $106,000 to a low of $98,500, breaking below key psychological support and affecting the price action of many altcoins.
Despite the price drop, the SEI token has demonstrated incredible price action under the radar, following in the footsteps of the HYPE token. The price has rallied over 70% in the last 7 days and could continue its strong rally to the upside.
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However, there has been strong speculation of the SEI token rallying towards new all-time highs, as crypto experts are calling for $10, considering this crypto coin to be highly undervalued, given that its $1 target has struggled to replicate such price action.
Let’s examine key price action that indicates the price could rally to new highs.
SEI Technical Analysis
Source – SEI 1D Price Analysis
Following a market rally to an all-time high of $1.1, the price of SEI crashed to a low of around $0.15 after a prolonged price rally to the upside. The price traded at its low of $0.15 and $0.24 before breaking out towards $0.73, gaining significant price speculation to $1.
The price of SEI failed to meet such expectations, breaking towards lower regions of $0.13 in April, signifying more market crashes for holders. However, things are beginning to look good for SEI again, as it has broken out of its downtrend with the price retesting cleanly, with bullish potential on the horizon.
With the price breaking above its key daily highs, there is strong speculation that the price will rally towards its high of $0.7 in the coming weeks, as it looks strong on both lower and higher timeframes.
Additionally, technical indicators are showing strong bullish market price action and could develop into a significant price rally. What is next for the SEI price?
SEI Market Reaction From Experts
Crypto on-chain analyst Ansem has identified strong bullish price action for SEI, similar to that of the HYPE token, as he believes the current price action of SEI has the potential to rally higher than expected despite its price-defying market uncertainties.
Also, crypto expert Butcher believes the price of SEI on the 3-day breakout could see a strong rally toward $10.
Despite such price prediction, a breakout above its all-time highs could set the tone for higher price rallies.
