The SEI token has seen a significant drop in recent months, but recent efforts may be a step towards recovery.
SEI Introduces U.S.-Based Development Foundation
On April 2, SEI announced the launch of the Sei Development Foundation in the U.S. This non-profit organization aims to accelerate the growth and awareness of the Sei protocol by providing financial and technical support to developers.
SEI Struggles to Hold Demand Zone
Initially, SEI mirrored SUI's price movements, but after facing rejection at the $0.73 level on December 4, it declined sharply. The token is now in a critical demand zone between $0.24 and $0.10.
Future of SEI: Is a Rebound Possible?
SEI is at a critical juncture. If buyers step in at the demand zone and the support level holds, it could lead to a bullish reversal. An increase in trading volume above the $0.24 resistance could signal a new momentum.
The development foundation and potential increase in trading volume might support SEI in the near future, but price movement should be closely monitored.
