SEI Price Prediction for May 12: Can the Rally Sustain Above $0.26?
The SEI price today is trading near $0.261, following a sharp rally that lifted the token from a key accumulation zone around $0.195 to a local high of $0.274. This explosive move came after SEI broke out of a descending trendline that had capped upside since late April. The rally was supported by rising volume and confirmed by several “Buy” signals on the 4-hour chart, suggesting a bullish shift in market structure.
After peaking near $0.274, the SEI price action has slightly cooled, forming a minor retracement on the intraday timeframe. While the trend remains upward, traders are beginning to question why the SEI price is going down today after such an aggressive rally. The answer lies in short-term profit-taking and an overbought momentum profile.
What’s happening with SEI’s price?: SEI Retests Breakout Zone
Zooming into the 4-hour and daily charts, SEI’s previous resistance around $0.249–$0.251 is now acting as immediate support. This area aligns with the breakout zone and is bolstered by trendline convergence and minor consolidation structures. If SEI price manag…
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SEI Price Prediction for May 12: Can the Rally Sustain Above $0.26?
The SEI price today is trading near $0.261, following a sharp rally that lifted the token from a key accumulation zone around $0.195 to a local high of $0.274. This explosive move came after SEI broke out of a descending trendline that had capped upside since late April. The rally was supported by rising volume and confirmed by several “Buy” signals on the 4-hour chart, suggesting a bullish shift in market structure.
After peaking near $0.274, the SEI price action has slightly cooled, forming a minor retracement on the intraday timeframe. While the trend remains upward, traders are beginning to question why the SEI price is going down today after such an aggressive rally. The answer lies in short-term profit-taking and an overbought momentum profile.
What’s happening with SEI’s price?: SEI Retests Breakout Zone
Zooming into the 4-hour and daily charts, SEI’s previous resistance around $0.249–$0.251 is now acting as immediate support. This area aligns with the breakout zone and is bolstered by trendline convergence and minor consolidation structures. If SEI price manag…
The post SEI Price Prediction for May 12: Can the Rally Sustain Above $0.26? appeared first on Coin Edition.
Read More