The cryptocurrency market has experienced a notable resurgence in recent weeks, led primarily by Ethereum ($ETH ). ETH has rallied over 55% in the past month and is currently trading just below the $2,500 mark after peaking at $2,700 — a level not seen since early January. This renewed bullish momentum is lifting overall market sentiment and benefiting altcoins, including Sei ($SEI ).

SEI has recorded strong monthly gains of more than 33%. While the token is down approximately 7% on the day, the current pullback is attracting attention as it aligns with a key technical retest — potentially setting the stage for a continuation of the uptrend.

Retesting an Inverse Head and Shoulders Breakout

Technical analysis of SEI’s daily chart reveals a well-defined inverse head and shoulders pattern, a classic bullish reversal formation. Typically, this pattern suggests the end of a downtrend and signals the potential for a significant upward move.

SEI confirmed a breakout earlier this month when it surged from the right shoulder near $0.19, breaking above the neckline resistance at approximately $0.2290. This breakout propelled the price to a local high of $0.2749.

Following this move, the token encountered resistance near the highs and has since retraced over 15%, bringing the price back to the $0.22 region. This area, previously a key resistance level, is now being tested as support — a critical juncture for determining the sustainability of the bullish breakout.

Rebound Potential: Key Levels to Watch

The current retest of the neckline around $0.22 is pivotal. If this level holds as support and buying interest re-emerges, SEI could resume its upward trajectory. A successful rebound could first target the recent high of $0.2749. Beyond that, the projected measured move from the inverse head and shoulders pattern suggests an upside target near $0.38 — representing a potential gain of approximately 68% from current levels.

Conversely, if SEI fails to maintain support at $0.22 and closes below it, the bullish setup may be invalidated. In such a case, the price could decline toward the 100-day moving average before establishing new support levels.

With Ethereum maintaining its bullish momentum and broader altcoin strength persisting, SEI's current retest zone could serve as a launchpad for the next leg higher — provided the technical support holds.

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