Market structure shows bullish re-test, SEI target price is $0.55-$0.75-$0.90

#SEİ supported by lower lows and strong signs of recovery, SEI (SEI) exhibits a positive market structure. Price action indicates that the stock is in a bullish re-test phase, chart patterns and market sentiment suggest that the coin has further upside potential, with expectations of breaking through the $0.90 level.

The trading price of Sei (SEI) is $0.3286, with a 24-hour trading volume of $231,982,900. The asset has increased by 3.99% over the past day and 1.15% over the past week. Despite a year-to-date decline of 17.11%, the performance over the past year still shows positive growth, reaching 18.10%.

It is currently in a bullish re-test phase before rebounding to $0.90. The chart shows that the SEI coin price has started a downtrend line from a high of around $1.30 and has formed a tight wedge near the $0.30 to $0.32 range. This area currently constitutes a support level.

The structure indicates that lower lows are continuously increasing, and each low is accompanied by high purchasing power. These trends imply accumulation at critical price points, increasing the likelihood of a breakout above the long-term resistance area.

Key levels and price roadmap

The Fibonacci retracement levels on the SEI chart can serve as reference points for potential bullish targets. The initial resistance level is around the $0.382 retracement level, close to $0.55-$0.60. A breakout above this level could lead to momentum swiftly rising to $0.75 at the $0.618 retracement level.

The forecast target of $0.90 aligns with previous structural resistance levels and measured impulse waves. This suggests that the price could triple from the current trading range of around $0.33. If the breakout is confirmed, Ali recommends following this path.

On the downside, if the closing price falls below the $0.28-$0.30 support level, the price will invalidate. If this support level fails to hold, the price may face a deeper correction, with a focus on the $0.20 level.

Market sentiment and short-term action

The intraday chart of Sei shows that the currency pair bounced from $0.3159 to a high of around $0.3307, forming a V-shaped rebound. It is currently fluctuating near the $0.329 range, indicating healthy consolidation after rapid fluctuations.