Sei (SEI) continues to trend lower, recently trading near $0.0519 as persistent selling pressure dominates the chart. According to the crypto analyst CyrilXBT, the 200-day EMA around $0.1297 sits far above current levels, highlighting a deep bearish structure.
Weak volume reinforces the move, showing a lack of buyer conviction and limited signs of accumulation or meaningful support forming.
Source: CyrilXBT’s X Post
Despite ongoing weakness, Sei remains on watch due to its upcoming Giga upgrade, which some see as a long-term catalyst.
However, sentiment stays cautious as price action ignores fundamentals for now. Traders are waiting for a confirmed break above $0.10 with strong volume before considering re-entry, signaling a potential trend reversal.
Also Read: Sei Builds Strong Base: 3 Bullish Signals as SEI Giga Sparks Momentum
According to TradingView, SEI highlights a recovering relative strength index currently positioned at 53.88. Having bounced from oversold levels near 20, the RSI has crossed above its signal line, indicating a shift toward bullish momentum.
This movement suggests that the aggressive selling pressure has subsided, allowing the asset to stabilize and seek higher resistance levels during this period.
Source: TradingView
This reversal also gets support from the MACD, which indicates a bullish cross as the blue line moves up towards the zero level. The green histogram bars indicate that the buying momentum is consistently increasing compared to the previous downtrend.
While the values are still relatively low, the increasing divergence between the MACD and the signal line indicates a strong recovery period ahead.
Apart from this price movement, Sei has now become one of the big players within the EVM chain, being the third highest in terms of active wallet users in March.
According to reports, it has overtaken other more established chains such as Polygon and Base, suggesting that it is experiencing rapid growth among its users.
Source: Sei’s X Post
Active monthly wallets remain a crucial metric that measures the real adoption of a blockchain. Considering the success shown by the Sei blockchain, the project looks poised for increased growth in the future.
Given its success in outperforming other established and quickly growing chains, it is evident that Sei has strong momentum within the crowded space.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: SEI Weekly Support at $0.05566 Could Spark Reversal Toward $0.480
