SEI Token Rises 8% Amid Market Correction, Analysts Target $0.33 to $0.52
Bitcoin has recovered to $86,000 after reaching $84,000. SEI is showing strong support and has rebounded from the psychological mark of $0.20, currently trading at $0.2669 with an 8.11% increase over the past week.
SEI Price Reversal and Technical Analysis
- SEI token surged 20% last week after a nearly 50% drop in January.
- A bullish Morning Star pattern on the weekly chart indicates potential for recovery.
- Current support level at $0.2556 with prospects of breaking local resistance.
- If successful, targets include $0.3680 (center pivot) and beyond to $0.448-$0.5572.
- Upside potential exceeds 100%; failure could test support at $0.1788.
Network Activity and Demand
- Total value locked in SEI network is $198.9 million, up from $166 million earlier.
- DEX volume reached $27.5 million, peaking at $33.6 million recently.
- Daily active addresses increased to 338.7k from 255k on February 16.
Analysts' Price Targets
- Analysts suggest price targets between $0.33 and $0.52 based on recent performance.
- SEI cleared major liquidity, indicating a sharp reversal.
- Local high-volume area near $0.26 presents a challenge for continued uptrend.
- Recent purchases by Donald Trump’s World Liberty Financial may indicate growing institutional interest.
The overall expectation is for SEI to gain momentum and potentially reach the overhead trendline near $0.52 amidst market recovery.