SEI Price Surges Above Resistance as Buyers Gain Momentum
The SEI price has broken above its descending trendline resistance on the 4-hour timeframe, sparking hopes of a potential bullish reversal. According to Alpha Crypto Signal, this breakout is supported by a strong bullish candle, indicating that buyers are gaining momentum after an extended period of weakness.
Traders will be watching whether SEI can remain above the broken trendline and turn former resistance into support. If successful, this could develop into a broader upward move. The market structure has turned more bullish, with the SEI price moving from a long bearish trend to an anticipated bullish trend.
The MACD is now above the zero level following a bullish crossover, showing that the buying momentum is improving. Trading volume has risen by 21.41% to $114.71 million, which could confirm support for the breakout. Low fees on the SEI network may also increase its attractiveness and contribute to adoption.