Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sei-altcoin-plunges-after-peaking-risks-further-decline" rel="noopener noreferrer nofollow">SEI Altcoin Plunges After Peaking, Risks Further Decline</a><br></p>
<p style="text-align: justify">The cryptocurrency SEI, after achieving a record high, has shown signs of a downward momentum and is now fluctuating within a specific price bracket, hinting at a potential 18% decline from its peak. Despite the initial surge that brought significant returns to investors, the asset’s value has been slipping, causing concern about its immediate future.</p>
<h2 id="sei-s-volatile-price-movement">SEI’s Volatile Price Movement</h2>
<p style="text-align: justify">SEI’s value journey showcased a 345% climb, positioning it as a high-gain crypto asset over a brief period. Nevertheless, following its summit of $1.03 on December 18, 2023, SEI’s value dipped to $0.56, and despite a short-lived recovery to $0.94, it could not hold the momentum, leading to a further fall.</p>
<p style="text-align: justify">The altcoin’s resilience at the $0.88 resistance level could potentially reverse the current bearish trend and accelerate the price to previous heights. For a positive shift, SEI needs to establish a strong foothold at this pivotal price point.</p>
<h2 id="predicting-sei-s-support-and-resistance-levels">Predicting SEI’s Support and Resistance Levels</h2>
<p style="text-align: justify">Analysts have pointed to a 20% price plunge in SEI, although an uptick in <a href="https://en.bitcoinhaber.net/bitcoin-faces-potential-correction-analyst-warns-of-30-pullback-risk" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value could disrupt this negative trajectory. Should SEI transform its $0.88 resistance into a support level, it could spell the end of the bearish trend and trigger a price surge.</p>
<p style="text-align: justify">While there is a consensus on SEI’s potential drop, Bitcoin’s market movements may play a crucial role in determining SEI’s fate. If the coin manages to convert the $0.88 threshold into a support level, it may invalidate the predicted slide. Critical monitoring of SEI’s fluctuations around these crucial junctures is advised for investors, especially considering the possibility of a descent to the $0.70 mark.</p>
<p style="text-align: justify">Currently, SEI trades just below the key resistance, with investors eyeing the $0.88 mark to determine if the downtrend will continue or if the coin will rebound.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sei-altcoin-plunges-after-peaking-risks-further-decline" rel="noopener noreferrer nofollow">SEI Altcoin Plunges After Peaking, Risks Further Decline</a></h5>

SEI Altcoin Plunges After Peaking, Risks Further Decline

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