The latest price analysis of SEI indicates that the cryptocurrency is currently experiencing significant bearish pressure, as it remains confined within a descending parallel channel. According to the official information, this trend suggests that traders are cautious, and the market sentiment leans towards the downside.
Current Market Situation for SEI
Despite a recent bounce from the support level, SEI is struggling to break through the midrange resistance, which lies between 0.19 and 0.20. This resistance level is critical for a potential bullish reversal. Analysts suggest that a strong reclaim of the 0.20 mark is essential for SEI to shift its momentum positively.
Potential Risks and Targets
If SEI fails to overcome this resistance, the downside risk remains substantial, with potential targets around 0.12 to 0.10. Traders are advised to monitor these levels closely as they could indicate further bearish movements if the support fails to hold.
While SEI faces significant bearish pressure, Monero has recently shown strong momentum, as detailed in the analysis. Analysts are monitoring potential corrections amidst this upward trend.
