$SEI Breaks 7-Month Downtrend — Eyes Set on $1 Price Target
SEI has officially broken free from its long-standing bearish pattern, igniting renewed bullish sentiment across the market. After trading in a descending channel since November 2024, the token just printed one of its biggest weekly green candles in over a year, signaling a potential major trend reversal.
📈 Bullish Breakout Confirmed
This breakout marks the end of a 7-month downtrend, with bulls now targeting higher levels. The Relative Strength Index (RSI) has moved above the neutral 50 mark, showing momentum has shifted in favor of the bulls for the first time since late 2024. However, for the rally to sustain, the RSI must print a higher high to confirm strength.
🎯 Key Targets Ahead
If buying pressure continues, the next significant target is the 61.8% Fibonacci retracement level at $0.50 — a zone that acted as strong resistance during the Q4 2024 rally. According to CoinGape, a rare chart pattern further supports the possibility of SEI surging toward this level.
But the real psychological battle lies at $1, a price SEI hasn’t touched since March 2024. For this level to come into play, the Chaikin Money Flow (CMF) indicator which tracks capital inflows and outflows must flip positive. While the CMF has been making higher lows, it hasn’t crossed above zero yet. A move into positive territory would confirm that capital inflows now exceed outflows, strongly boosting the bullish outlook.
