The price of SEI has broken above its 21-day moving average (MA), a key technical indicator that had previously acted as resistance throughout a prolonged downtrend. This move, highlighted by prominent analyst Michaël van de Poppe, signals a potential shift in momentum and the start of a new uptrend. The breakout is accompanied by steady volume, adding confirmation to the technical shift.
Fundamental strength supports this technical narrative. The Sei network recorded over one million active accounts in December 2024, positioning it as one of the most active EVM-compatible chains. This sustained user growth, driven by the network's high-throughput, low-latency design suitable for trading and gaming applications, provides a fundamental backdrop for the price action.
Analysts are now watching the $0.15–$0.16 zone as immediate support and a key area for the new trend to hold. The primary upside target is identified in the $0.24 to $0.26 range, which aligns with prior consolidation levels. Market dynamics, including potential short covering from positions built during the consolidation phase, could add upward momentum if the price continues to rise.
The overall trend change remains conditional. SEI still trades below longer-term moving averages, and sustained closes above the 21-day MA are critical for the bullish structure to remain valid. The broader market environment, particularly Bitcoin's stability, is also seen as a supportive factor for altcoin rotation into active networks like Sei.
