Sei whale activity is becoming a talking point as the token shows signs of renewed momentum.

Large wallets are gradually positioning, hinting at growing confidence in the breakout setup. The recent move above resistance has caught the eye of traders looking for confirmation.

After weeks of sideways action, the asset finally pierced through a key descending wedge. Now, the big question is whether this momentum can fuel a rally toward $0.37.

Resistance levels and breakout path

Sei crypto is drawing fresh attention after breaking out of a descending wedge pattern, a setup often seen before sharp reversals. Analyst Ali highlighted the move on X, noting that price retested the breakout zone around $0.28–$0.29, turning former resistance into support. This technical retest strengthens the bullish narrative and signals growing buyer conviction.

Source: X

The wedge breakout has opened the path toward Fibonacci retracement levels. Price has already tested the 61.8% level near $0.30, a zone that often acts as stiff resistance. If momentum holds, traders are eyeing the 78.6% retracement near $0.32 and the prior highs around $0.37 as the next critical targets.

Whale activity around the token has been muted but steady, with large wallets showing early signs of accumulation on dips. Their participation is being closely watched, as stronger inflows from major holders could accelerate a push toward the $0.37 zone before December.

Market conditions and short-term structure

Additionally, BraveNewCoin data shows the coin trading near $0.29, up about 3% in the last 24 hours. Market capitalization stands at $1.77 billion, supported by $115 million in daily volume. With an available supply of 6 billion tokens, Sei maintains healthy liquidity for both institutional and retail traders.

Source: BraveNewCoin

The bullish breakout comes after months of consolidation in the $0.25–$0.35 range. This move aligns with broader optimism across mid-cap altcoins, suggesting the token could be entering a new accumulation-to-expansion cycle. The mid-June rally toward $0.39 provides a roadmap for potential retests if buyers sustain pressure.

Despite optimism, traders remain mindful of short-term volatility risks. Indicators like MACD divergence and recent taker sell volume point to possible pullbacks. Still, the wedge breakout provides a bullish framework unless the price collapses back below $0.28 support.

Indicators and momentum picture

At the time of writing, the coin was priced around $0.2995, consolidating after retesting its breakout zone. The daily candlestick structure shows higher lows forming, a constructive sign that buyers remain active. However, resistance between $0.30 and $0.32 continues to cap stronger upside attempts.

Source: TradingView

The Relative Strength Index (RSI) sits at 50.40, reflecting neutral market momentum. With the RSI-based moving average at 46.18, the token is balanced between buyers and sellers. This neutrality suggests traders are waiting for confirmation before entering larger positions.

The MACD paints a cautiously bullish picture, with the histogram slightly positive at 0.0009. A weak crossover has formed as the MACD line hovers near the signal line, hinting at a shift toward upward momentum. If volume expands, Sei crypto could build the strength needed to test $0.32 first and eventually $0.37.