- SEI/BTC consolidates in accumulation range; Exceeding 800 sats can indicate a trend change and new highs.
- Resistance to 800 sats remains a key barrier; Sustained buying momentum could push SEI towards a bullish breakout.
- The RSI and volume suggest balanced conditions; Support is critically important to SEI’s potential upward movement.
SEI continues to consolidate against Bitcoin, maintaining its position within a defined accumulation range. The chart shows a prolonged move within a range after a previous rise followed by a sharp decline. Market analyst Michaël van de Poppe stressed that SEI has not yet achieved significant progress. Once the price breaks above 800 sats, a new all-time high could occur.
The SEI/BTC chart illustrates this development. Initially, the trading pair witnessed a strong bullish rally, indicating strong buying momentum. However, the price retreated sharply, driven by profit-taking and a gradual weakening of demand. After this drop, the pair stabilized and entered a consolidation phase, repeatedly testing a key horizontal support level. This support zone proved critical as buyers consistently prevented further downward movement.
Source: Michaël van de Poppe
The resistance zone remains a key barrier
During its recent price action, SEI reclaimed the support level, renewing buying interest. Consequently, the price attempted to test a resistance zone, highlighted in red on the chart. This resistance area previously acted as a supply level, causing downward moves each time it was tested. However, buyers failed to push the price above this barrier, leading to another rejection.
Michaël van de Poppe notes that the 800 sat level serves as a critical threshold. A break above this resistance could signal a new trend change. Furthermore, the bullish momentum may attract greater participation from buyers. If SEI breaks above this zone, it could confirm a bullish outlook, which could pave the way for price discovery and new all-time highs.
RSI and volume indicate balanced market conditions
The Relative Strength Index is currently hovering around neutral levels, reflecting balanced market conditions. Previously, the RSI approached the overbought territory during the price resistance test. However, it retreated, indicating a reduction in buying momentum.
The volume data further highlights the subdued trading activity during the recovery from support. Greater participation near the level of support underlines its importance. If SEI maintains this base, new attempts to the upside could follow.
Furthermore, if this support does not hold, new downward pressure could be generated. However, a sustained move above the resistance zone will validate a bullish breakout. Traders are closely monitoring these levels as the SEI hovers at a decisive moment. The market waits for confirmation of a trend change.
