SEI Crypto Price May Bounce Back From the Bottom, Here's Why

The SEI crypto price has remained bearish for the past few months. The price has kept declining toward the lower lows and lower highs and reached the major support level of $0.230.

The Sei crypto price has been battered brutally, dropping to the major support level of $0.230. As per recent updates, the price has dropped by 35% this month, and overall, it has dropped by more than 80% since mid-March.

However, there are some indications that the SEI price may bounce back from the bottom. In a 4-H time frame, the SEI price has dropped to the key horizontal support level. The RSI has melted to the oversold zone and generated a bullish divergence. Based on these scenarios, the SEI price may shoot up soon.

Technical Analysis of Sei Crypto Price Over 1-D Timeframe

The SEI price has remained bearish for the past few months, as per the technical chart. The price has kept declining toward the lower lows and lower highs, reaching the major support level of $0.230.

Suppose the digital asset price takes support on the major support level of $0.230, buying momentum can be initiated. Alternatively, sellers may keep dominating if the SEI price slips below this level, and the price may melt to the $0.100 hurdle.

Turning to the technical analysis, the MACD has generated a death crossover with the signal line, and the histograms have been flipped to red.

Will SEI Price Rebound or Keep Falling?

In conclusion, the SEI crypto price has experienced a significant bearish trend, dropping to the major support level of $0.230. The price decline has been substantial, with a 35% drop this month and an overall decrease of more than 80% since mid-March.

On a positive note, there are indications that the SEI price may rebound soon. However, suppose the sellers continue to dominate and push the price below the crucial support level. In that case, the bearish trend may continue, targeting lower support levels or even the all-time low (ATL) of $0.033.

From a technical analysis perspective, the MACD has generated a death crossover with the Signal line, and the histograms have turned red, signaling a bearish trend. However, the recent histogram bars are shortening, indicating a possible slowdown in the bearish momentum.

Technical Levels

The SEI price may face resistance from the $0.370 and $0.450 levels. It may take support at the $0.230 and $0.140 mark.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

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