Sei is garnering interest as analysts offer split predictions on future direction. Some call out a buy signal solidly forming, while others suggest waning strength as the token tests an important support level. The coming days could indicate whether the price of SEI experiences a rebound or further declines.
At the time of writing, SEI is trading at $0.2925, holding a 24-hour trading volume of $189.50 million and a market capitalization of $1.80 billion. The coin has recorded a slight decline of 0.35% in the past 24 hours, drawing close attention from the crypto community as it tests key levels.
Prominent crypto analyst Ali Martinez stated that SEI presents a good buy signal. According to his belief, the TD Sequential signal has become bullish during the opening of the month. Martinez reminded that the previous time such an indicator went off on SEI, the token peaked a while thereafter. With a buy signal created, he has announced that he’s adding to his position of the coin.
On the other hand, Alpha Crypto Signal has pointed out a bearish view. He noted that the failure of SEI to uphold its horizontal zone of support and therefore slumping downward towards the trendline support area signifies waning purchasing power as the bulls failed to hold at the superior pivot point that preserved the market structure.
Currently, SEI is supported at this trendline support line, standing as the last line of defense of the bulls. A rebound from this area could continue with the overall bullish formation and encourage upside. However, a break through the support could expose the coin to more downside risk and likely confirm a bearish trend.
With SEI achieving a decisive level, the market anticipates whether bulls can sustain this support or a further pullback.
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RSI stands at 40.22, dwelling above the oversold zone but still lower than the neutral line of 50, reflecting poor momentum. Current price is above the zone of support but lower than the MA Ribbon levels at $0.29846, $0.31352, $0.31847, and $0.30629 as a good resistance. Bulls thus need further energy with a target of breaking through those challenges.
MACD presents a mixed picture as the line at 0.00025 and the signal at -0.00791 are displaying initial hints at a probable bullish crossover. Histogram bars are also changing towards lighter hues and are indicating selling pressure easing. If momentum continues, the coin may try to make one more push through the upward route in the short run.
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