Sei (SEI) is trading around $0.29 after a 9% weekly decline. However, trading volume remains high, indicating trader interest.
Price Dynamics of SEI
Recently, SEI has experienced steady selling pressure, dropping below the $0.30 level. The current price is near short-term support, with analysts watching for potential reversal signals.
Analysis of SEI Structure
Crypto analyst Ali Martinez compared SEI to SUI, highlighting a similar setup. According to Martinez, SEI may be following SUI's trajectory before a significant rise above $5. 'This could be the last dip before a monster bull rally to $4,' Martinez noted.
Futures Market Activity and Network Growth
CryptoQuant's data shows increasing volumes in SEI futures. While this activity may lead to rallies, excess activity can trigger short-term corrections as well. Meanwhile, Sei's total value locked has reached $604 million, up 7% in the last 24 hours.
Despite the current decline, analysts suggest potential for future growth of SEI, creating interest among traders monitoring the situation.
