- SEI is hovering around $0.10.
- Daily trading volume is down by 28%.
The crypto market’s consistent bearish waves have hindered the recovery. If the bears gained enough strength, the price of the digital assets could slip to their recent crucial lows. With the fear sentiment lingering, BTC and ETH are losing momentum and trading on the downside. Among the pack of altcoins, in the last 24 hours, SEI has lost over 2.03%.
The asset’s low and high trading ranges are noted at around $0.108 and $0.1114, respectively. CoinMarketCap data has reported that SEI is currently trading at around the $0.1083 mark. Also, the market cap is resting at $702.83 million, with the daily trading volume plummeting by over 28.20%, reaching $36.75 million.
Meanwhile, the Ali chart reveals $0.106 is acting as a key support for SEI. As long as the price holds above this level, buyers remain in control. A sustained hold keeps the upside path open to the $0.113–$0.115 resistance zone. A clean break below $0.106 would weaken the bullish setup and invite renewed downside pressure.
Is SEI’s Downtrend About to Strengthen?
SEI’s Moving Average Convergence Divergence line and the signal line are below the zero line, which indicates bearish momentum. The short-term price action is weaker than the long-term trend. Moreover, the Chaikin Money Flow (CMF) indicator at 0.00 suggests neutral market conditions. It shows a balance between buying and selling pressure, with no strong capital inflows or outflows, signalling indecision.
Significantly, the daily Relative Strength Index (RSI) value at 39.72 signals weak momentum leaning bearish. The selling pressure is stronger, but the asset is not yet oversold. Further drop could push it to oversold levels. SEI’s Bull-Bear Power (BBP) reading of -0.0032 implies slight bearish control. But the pressure is weak, not aggressive. This has a low conviction, where the price could consolidate.
The SEI price might steeply fall to the support at the $0.1060 range. Further correction on the downside could trigger the emergence of the death cross to send the asset’s price lower, below $0.1037. If a recovery for SEI occurs, the price could climb to the nearest resistance at around $0.1106. With extended bullish pressure, a golden cross might take place, and push the price up toward the $0.1129 level.
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Source: https://thenewscrypto.com/sei-price-battle-is-it-sliding-toward-0-106-or-rallying-toward-0-115/
