- SEI trades at $0.2862 with resistance at $0.37 in focus.
- Open interest drops as leveraged traders scale back, signaling caution.
- Breakdown below $0.2524 could send SEI sliding to $0.20 support.
SEI managed to post a small uptick in the past 24 hours, climbing 1.61% to trade at $0.2862. Its market cap stayed anchored near $1.71 billion, while daily trading volume hit $155.2 million, showing only modest growth. For now, the token seems locked in a tug-of-war between cautious optimism and creeping bearish signals.
Eyeing the $0.37 Resistance
Analyst Ali Martinez recently flagged SEI’s setup on X, pointing out that the coin is trading near the lower end of its channel and flashing a buy signal. Historically, that kind of structure often sets up rebounds if buyers show up. Should SEI hold its channel intact, traders are watching for a push toward the $0.37 resistance zone. But given the market tone, it’s no guarantee — a breakout will need strong volume to stick.
Technical Signs Show Mixed Signals
On the charts, SEI bounced back from dipping under the lower Bollinger Band, avoiding a deeper drop to the 38.2% Fibonacci level around $0.2524. Bands remain flat, hinting at low volatility but leaving the door open for a reversal. At the same time, CoinGlass data shows open interest sliding to $233.28 million from $245.17 million last week. That drop tells us leveraged traders are cutting exposure, leaning cautious after weeks of mixed momentum.
Meanwhile, market sentiment isn’t exactly cheering. Taker sell volume stands at 51.24%, tipping the balance slightly toward the bears. The long-to-short ratio sits below 1 at 0.9516, reflecting sellers holding the edge despite technical hints of recovery. Momentum indicators back this up — MACD lines are sloping down, and RSI is stuck at 43, below neutral, pointing to a fragile setup.
Key Levels to Watch
If SEI can clear $0.37, bulls may get their breakout. But failure to hold $0.2524 could drag the token toward the psychological $0.20 level, which would undercut near-term bullish hopes and reinforce a deeper bearish trend. For now, the price action is balanced on a knife’s edge — cautious traders are waiting for a cleaner signal before picking a side.
