The post Altcoins May Have Bottomed as SEI Price Gears Up for a Massive Breakout—Key Levels to Watch appeared first on Coinpedia Fintech News
The broader altcoin market could be approaching a pivotal moment. Recent crypto market structure suggests that altcoins, excluding the top 10 crypto have dropped to a critical support zone, a level that historically marks the end of prolonged corrective phases.
After weeks of sustained selling pressure across the crypto market, the total altcoin market cap excluding the top 10 assets appears to be stabilizing near a key accumulation region. This development is raising speculation that the altcoin sector may be preparing for its next breakout phase.
Amid this potential shift in sentiment, Sei price is emerging as one of the altcoins that could lead the next move.
Altcoin Market Shows Signs of Bottom Formation
The chart tracking the crypto total market capitalization excluding the top 10 assets indicates that altcoins are currently holding near a major long-term support zone around $170 billion.
Historically, this region has acted as a strong demand area where buyers begin accumulating after extended market corrections. The latest price action shows that the market recently tested this support level and managed to stabilize, suggesting that selling pressure could be weakening.
Source: X
Momentum indicators further support this possibility. The Relative Strength Index (RSI) on the chart remains near the lower range, levels that have previously coincided with market bottoms in earlier cycles. Meanwhile, the stochastic momentum indicator is beginning to flatten, hinting that bearish momentum may be fading.
If the altcoin market manages to reclaim the $205 billion to $223 billion resistance zone, it could signal the beginning of a broader recovery across the altcoin sector.
SEI Price Testing a Critical Support Zone
Among the altcoins showing notable technical setups, Sei appears to be positioned at a key turning point. The weekly chart shows that SEI has been trading inside a descending channel, reflecting a prolonged corrective phase since its previous rally. Currently, the price is hovering near the lower boundary of this channel, around $0.065 to $0.07, which often acts as a strong support level in trending markets.
Momentum indicators are also beginning to signal that the selling pressure could be nearing exhaustion. The Relative Strength Index (RSI) on the weekly chart is currently hovering near 28, placing it close to oversold territory. Historically, similar RSI conditions have often preceded price recoveries. Meanwhile, the MACD indicator remains in negative territory but is beginning to flatten, as the levels are heading for a bullish crossover.
What to Watch Next
The altcoin market appears to be approaching a critical turning point, with several indicators suggesting that the sector may be nearing the end of its correction phase. If the altcoin market cap excluding the top 10 cryptocurrencies begins to recover from its current support zone, it could trigger renewed momentum across the sector.
In such a scenario, Sei could emerge as one of the early movers and reach the resistance at $0.12, initially which may get extended to $0.18 and $0.25. On the downside, if itfails to hold the $0.06 support zone, the correction could extend further, delaying the potential breakout structure.
However, in the wider perspective, oversold indicators and a strengthening market structure suggest that the SEI price may be positioning itself at the foothill of a potential breakout if bullish sentiment returns to the altcoin market.