SEI, the native token of the Sei blockchain, is showing strong bullish signals, reigniting optimism among traders and analysts. Popular crypto analyst Michael van de Poppe recently highlighted the setup on X. According to a SEI/BTC chart he shared, strong upward divergence in SEI is starting to take hold, and it could target 600 to 800 sats.
This comment comes as SEI’s price action continues to show a classic technical pattern that often precedes upward moves. A bullish divergence occurs when the price hits lower lows, while key momentum indicators, such as the RSI, form higher lows. This indicates weakening bearish momentum, suggesting a possible upside reversal.
SEI Technical Picture
As of the current update, SEI is trading around 221 sats, with a Bitcoin price of $95,000, representing a 4% increase over the past 24 hours. Over the last seven days, SEI has increased by 18%.
Against the US Dollar, SEI is trading at approximately $0.21. It recently bounced back from lows of less than $0.18. The trading volume of this token has increased by more than 130% in the past 24 hours. Additionally, there is a 4% growth in its market valuation, now exceeding $1 billion.
With a Fully Diluted Valuation (FDV) of $2.09 billion, technical indicators support the bullish predictions. The RSI has climbed from oversold territory (below 30) to around 59.44, which is neutral. This suggests that buyers are stepping back into the market, but there is still room for further price increases.
Meanwhile, the MACD (Moving Average Convergence Divergence) has turned bullish on the 4-hour and daily time frames. Not only this, but SEI’s’ 20-day moving average has started to curl upward.
Key resistance lies around the 250 sat level, which represents a 13% upside from current prices. Reaching 600 sats could pave the way for achieving the higher 800 sat target mentioned by van de Poppe. If this happens, it would represent a 78% rally from current levels.
What to Watch
Investors and traders will want to monitor Bitcoin’s overall performance, as its sentiment heavily influences the movements of altcoins. If Bitcoin remains stable or bullish, SEI’s bullish divergence setup could indeed play out strongly.
Moreover, the Sei blockchain itself has been gaining attention, with recent reports showing an increase in active users and dApp launches. With technicals and fundamentals aligning, SEI may experience a significant breakout for its traders and community.
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