- SEI retests $0.28–$0.29 support after breakout, with traders awaiting confirmation for next upside target at $0.32–$0.34.
- Derivatives volume drops 11.07% while open interest slips 1.43%, suggesting consolidation before renewed market momentum.
- Long/short ratios on Binance show traders holding nearly twice as many long positions compared to shorts, reinforcing bullish bias.
SEI has broken above a multi-week descending trendline and is now retesting its breakout zone, with $0.28–$0.29 acting as crucial support. Traders and market data suggest this area will determine the token’s next short-term direction.
Breakout Retest and Technical Setup
The SEI/USDT 4H chart reveals that price action successfully pierced a long-standing descending resistance line. A retest above this breakout is now underway, with the gray support box between $0.28 and $0.29 playing a pivotal role.
Alpha Crypto Signal noted the development, pointing to this zone as a possible entry for long positions. If SEI maintains its footing above support, the structure could establish a higher low and open room for an upside extension.
The decisive close above trendline resistance marked a shift in momentum. Markets typically revisit former resistance for validation, and SEI is currently in this stage. Failure to hold here, however, would expose the token to deeper declines near $0.26.
Market Sentiment and Trader Positioning
Sei Intern described the setup as clean, with risk/reward favoring long entries. The commentary aligns with derivatives sentiment, where traders continue to favor upside positioning despite recent consolidation.
According to the latest data, SEI’s trading volume stands at $131.4M as of writing, over 24 hours, showing a 0.77% dip. Over the past week, the token has slipped 4.19%, signaling a measured pullback while structure remains intact.
Positioning data shows a strong bullish skew. Binance long/short ratios stand at 1.93 by accounts, while top traders push this figure higher to 2.01. By position, the ratio is 1.19, still favoring longs. OKX traders reflect a more balanced but mildly bullish stance.
Derivatives Data and Liquidation Pressure
The derivatives market reflects cooling participation. Volume decreased by 11.07% to $224.81M and open interest decreased by 1.43% to 232.11M. Such cuts are frequently an indicator of consolidation as opposed to vigorous continuation.
Even with softer participation, liquidation figures indicate sellers face difficulty sustaining pressure. In the last 24 hours, liquidations totaled $89.59K, with $68.73K from longs and $20.86K from shorts. Short liquidations in shorter time frames suggest bears were repeatedly forced out during rebounds.
This structure implies that while overexposed bulls remain at risk during pullbacks, buyers are still defending critical levels. When the support at $0.28-0.29 is maintained, sentiment can drive SEI to the second resistance band of $0.32-$0.34.
