After recent declines, SEI token has displayed early signs of price stabilization, fueled by a TD Sequential buy signal and an uptick in short-term technical indicators. Trading near $0.16, the asset hints at a potential bottom formation. 📈
TD Sequential Indicator Points to Exhaustion of Downtrend
Technical analysis provided by market analyst Ali Martinez on X shows that the TD Sequential indicator has given a buy signal for SEI on its daily timeframe. This indicator developed by Tom DeMark helps identify trend exhaustion and potential reversal points after extended market movements.
The chart shows consecutive bearish candles followed by a smaller bullish one, suggesting easing selling pressure. The buy signal appeared near the $0.1600–$0.1620 level, now acting as crucial support. Resistance levels are located near $0.1750, $0.1850 and $0.1950.
Short-Term Momentum Shows Improvement on Technical Indicators
A 4-hour SEI/USDT chart from Binance shows a price movement around $0.1637, with a 1.17% gain in the last session. Price data also shows SEI forming a potential support base near $0.16 after weeks of lower highs and lower lows.
Short-term technical indicators are supporting this positive shift. The Relative Strength Index (RSI) has recovered from oversold territory, now at 39.74, indicating that selling pressure has eased. Additionally, the MACD has exhibited a recent bullish crossover, with the MACD line moving above the signal line. This often suggests an early positive shift in market momentum.
Market Stability & Future Price Scenarios
SEI is currently trading at $0.1632 on CoinMarketCap, up 2.71% daily. With a market cap of $1.02 billion and a fully diluted valuation of about $1.63 billion,
The current data suggests a stabilizing period for SEI. Initial signs indicate potential buying opportunities.
With continued support above $0.16, the near future will likely see price tests at $0.17 to $0.18. A break above $0.18 could reinforce the bullish formation. Conversely, falling below $0.15 might signal fresh weakness.
This article was originally published as SEI Shows Early Signs of Recovery After TD Sequential Buy Signal and Technical Momentum Shift on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.