SEI Price Forms Bullish Falling Wedge Setup with $1.14 Target in Sight
SEI price is forming a bullish falling wedge pattern on the weekly chart, potentially targeting $1.14 upon breakout.Summary
The SEI token is exhibiting a classic bullish falling wedge pattern on the weekly chart, suggesting a potential mid-term trend reversal after a period of consolidation. Analysts note that the price has repeatedly tested and held the lower boundary of this wedge, indicating strong support.
Supporting the bullish outlook are signals like RSI divergence on the high timeframe, where price made lower lows while the RSI moved higher, suggesting weakening bearish momentum. Furthermore, the price has revisited a key 2023 support zone, historically an accumulation area.
If SEI breaks decisively above the upper boundary of the wedge, analysts project a target near the $1.14 structural resistance zone. Currently, the price trades near $0.16, facing short-term resistance at $0.162–$0.165, with immediate support near $0.157.
(Source：Brave New Coin)