SEI Tests Critical $0.13 Support Amid Double Bottom Formation Hopes

SEI is hovering near its crucial $0.13 weekly support level, a zone that has historically sparked two major rebounds over the past year. Recent intraday action showed cautious buying, with the coin dipping to $0.131–$0.132 on November 24 before rebounding to an intraday high of $0.138, but limited follow-through has kept traders waiting for confirmation. The weekly RSI is near its historical base, aligning with earlier points where momentum flattened prior to rebounds, yet the asset remains within a broad downward structure controlled by a long-term descending trendline near $0.22.

Analysts highlight a potential double bottom pattern that could signal a trend reversal if the support holds. Crypto analyst Ali projects that a bounce from this level might lead to a rally toward the $0.34 breakout zone, which, if cleared, could open upside targets between $0.35 and $0.65. Meanwhile, Michaël van de Poppe notes that SEI shows relative strength against Bitcoin during the market correction, suggesting it could accelerate upward once Bitcoin resumes momentum. Trading volume remains steady at $85.23 million over 24 hours, with a market capitalization of $852.2 million, indicating sustained liquidity and interest.