Sei (SEI) rises 38% in one week amid bullish technical shifts

Sei (SEI) has experienced a significant price rally, gaining 38% over the past week and approximately 9.2% within a 24-hour period. This upward movement occurred as Bitcoin consolidated near $84,000, following a retreat from earlier weekly highs.

Technical analysis indicates that SEI has reclaimed the $0.055 level, which previously acted as a supply zone in late June. By clearing the $0.055-$0.060 bearish order block on the daily chart, the token has shifted its daily swing structure to a bullish pattern. Traders are currently monitoring the $0.0646 level; a four-hour close above this point could potentially target the $0.072 level.

Despite these recent gains and increased trading volume over the last six weeks, the broader weekly trend for SEI remains bearish. A weekly session close above $0.080 is identified as the necessary threshold to signal a potential long-term shift toward a bullish trend. The Money Flow Index (MFI) has been rising but remains below the neutral 50 level.