The price of SEI cryptocurrency has dropped 33% from its mid-July peak, yet some analysts believe this indicates a forthcoming rise.
Price Dynamics of SEI
From July 14, SEI fell from $0.39 to $0.26 on August 2, marking a 33% decrease. However, after reaching this low, the price formed a higher low and rebounded to $0.30.
Current Situation Analysis
Currently, SEI is testing the 7-day moving average, hovering just below it. Trading volume has also decreased by 30% over the past 24 hours, suggesting a slowdown in trader activity during this period.
Forecasts and Potential Scenarios
Analyst Ali Martinez posits that the current drop may be the last shakeout before an upward surge. Comparing SEI's price action to that of another cryptocurrency, SUI, from last year, he notes that after a similar drop, a robust recovery followed. If SEI can exceed the resistance at $0.39, it may rise towards $0.43 and potentially $4.
Thus, while SEI's price demonstrates a downward trend, technical analysis and historical examples could indicate potential growth ahead.
