$SEI bounce suggests growing momentum toward breaking key 20-Day MA.
Target of $0.16 depends on breaking 20-Day MA resistance soon.
$SEI needs more strength to break 20-Day MA and reach $0.16.
$SEI is showing signs of a potential breakout after a recent bounce. Traders are closely watching for a move above the key 20-Day MA. A successful breakout could drive the price toward the $0.16 target zone.
$SEI Shows Potential as Momentum Grows After Bounce
$SEI has been showing signs of recovery following a recent bounce. The asset remains below the crucial 20-Day Moving Average (MA), but its recent performance suggests a potential breakout.
SEI price analysis showing breakout potential. Source: X
Michaël van de Poppe emphasized the importance of a break above the 20-Day MA to signal the start of a stronger trend.
At press time, SEI is priced at $0.1122I has held in the same low range as it did after its listing. This consistent support area is providing a foundation for further price action.
The recent bounce has provided some positive signs, but $SEI still requires more momentum to push through the next resistance levels.
Breaking the 20-Day MA and Targeting $0.16
The key hurdle for $SEI remains breaking through the 20-Day MA. A clear break above this resistance would suggest stronger bullish momentum and the potential for the price to rise further.
According to van de Poppe, once the asset surpasses this key resistance, $SEI could target $0.16 as the first milestone. The $0.16 target zone is considered significant, marking a crucial point for further progress.
However, it’s important to note that $SEI needs to gain more strength before this move can be sustained. The breakout above the 20-Day MA would signal the asset is ready for a more substantial rally.
Overall, the next steps for $SEI involve breaking through the 20-Day MA and gaining momentum to push towards the $0.16 zone. As of now, the bounce provides hope, but the market will need to see further signs of strength before this target can be reached.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
<p>The post SEI Eyes $0.16 Target with Crucial Break Above 20-Day MA first appeared on Coin Crypto Newz.</p>
