Recent data regarding SEI prices suggests that the cryptocurrency might be on the verge of a new upsurge.
Current Situation Overview
SEI traded in a range between $0.26 and $0.29 at the start of September. The recent bounce from this zone may signal a possible start of a larger rally.
Chart Analysis by The Wyckoff Architect
The chart shared by The Wyckoff Architect highlights a demand zone where buyers entered the market. The chart showcases a clear ascending line connecting previous highs and a wedge pattern that often precedes breakouts. A clean breakout and subsequent confirmation may indicate the return of buying momentum.
Prospects for Future Price Movement
If the price closes above the wedge line, it would early signal the return of buyer strength. A daily close above this line would confirm that sellers have lost control of the pullback, opening the door for further upward movement.
The analysis of SEI prices highlights significant levels from which a new growth phase may commence. As sellers lose control, maintaining price levels above critical points could signal a bullish trend.
