Expert Rand pointed out on X that SEI price is “bouncing over the confluence of supports on the $0.29 range” and is still consolidating inside a “major bullish pennant.” 

That’s exactly what the chart shows, SEI is holding right above a cluster of support levels while trading inside a tightening structure that usually leads to a big move.

SEI Chart Analysis: Confluence of Supports

The key level right now is $0.29. This area has acted as strong support several times, and every dip into it has been met with buying. That tells us traders see it as a price worth defending.

Looking at the bigger picture, SEI price has been recovering from its earlier downtrend and is now making higher lows. That gives bulls more confidence. 

At the same time, the price is pressing into resistance with lower highs, which is creating the pennant structure that Rand mentioned.

Image Source: X/Rand

Pennants are common in crypto after a big rally. Price cools off, squeezes into a tighter range, and then often breaks in the same direction as the original trend. For SEI price, the pennant comes after a solid bounce, so the bias leans bullish.

If SEI breaks out of this formation with volume, the first targets would be around $0.36–$0.38. If momentum is strong enough, the rally could extend toward the higher resistance area near $0.43–$0.44.

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SEI Price Key Levels to Watch

The line that matters most is still $0.29. If SEI holds above it, the bullish case stays alive. If price slips under that level, the pennant setup breaks down and SEI could slide back toward $0.25 or even $0.22.

On the upside, traders are watching the pennant resistance. A clean breakout could push SEI price to $0.36–$0.38 quickly, and a more aggressive run could test $0.43–$0.44.

However, SEI price is sitting at a very important point on the chart. The $0.29 support has held strong so far, and the bullish pennant is tightening with each passing day. If buyers step in with volume, the breakout could be powerful.

As Rand highlighted, the structure looks constructive, but nothing is guaranteed. For now, the market is simply waiting to see if SEI price can turn this consolidation into the start of another rally.

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The post Here’s Where SEI Price Could Go Next if This Breakout Setup Plays Out – Analyst appeared first on CaptainAltcoin.