Sei (SEI) rose above the overhead resistance at $0.43 on September 24, suggesting that the bulls are attempting a comeback.

SEI/USDT Daily Chart | Source: TradingView

The 20-day EMA ($0.38) has started to turn up and the RSI is in the overbought zone, suggesting an advantage to the buyers. If the rebound from $0.43 sustains, it will signal that the bulls have flipped this level into support. That will increase the possibility of a continuation of the upward momentum. The SEI/USDT pair could surge to $0.60 and then $0.70.

Conversely, if the $0.43 support breaks, the pair could drop to the 20-day EMA. The bears will have to drop and sustain the price below the 20-day EMA to regain control.

SEI/USDT 4-hour chart | Source: TradingView

The pair bounced off the $0.43 support, indicating that sentiment has turned positive and traders are buying on dips. If the price sustains above $0.46, the bulls will attempt to retest the overhead resistance at $0.50. A breakout and close above this level will indicate a continuation of the uptrend.

This bullish view will be invalidated in the near term if the price turns down and breaks below the 50 SMA. The pair could then drop to $0.36, where buyers are expected to step in.

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