Momentum

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>SEI coin glimpsed a fake breakout and witnessed rejection this week.</a></li>
 <li><span>2</span> <a>Bulls look like they are in trouble and look trapped.</a></li>
</ul>
<p>The SEI coin has escaped the consolidation zone and retested the $1 mark this week. However, the momentum could not last longer, and sellers aggressively pushed the coin from there, which trapped the bulls. Bulls are in a dilemma now and are trying for a bounce from the 50-Day EMA, and a hammer candlestick was noted in the last trading session. If bulls attain a pullback, an impulsive bull rally could be seen above the $1 mark.</p>
<p>Sei (SEI) coin price has retraced to the 20-Day EMA and witnessed a bounce in the last trading session. The price action signifies a fake range breakout, and bulls are trapped at the highs, and the coin may suffer a retracement to the 100-Day EMA mark soon. Additionally, the coin has ended the higher high swings and made a fresh lower low, which signals a trend reversal in the coming sessions.</p>
<p>The Sei coin (SEI) price was $0.8386 at press time, with an intraday drop of 0.59%, showing retracement on the charts. Moreover, the trading volume has increased by 14.90% to $313.34 Million. The Sei price has a monthly return ratio of 30.46% and 1210.67% on a yearly basis. The pair of SEI/BTC is at 0.0000136 BTC, and the market cap is $1.51 Billion. Analysts are bullish and suggest that the SEI coin may face volatility and will retest the 100-Day EMA mark shortly.</p>
<h2 class="wp-block-heading" id="strong-sei-exhibits-massive-speculation-on-hourly-charts-strong"><strong>SEI Exhibits Massive Speculation On Hourly Charts</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="474" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73-1024x474.png" alt="SEI" class="wp-image-195384" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73-1024x474.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73-300x139.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73-768x356.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73-1536x711.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73-750x347.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73-1140x528.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-73.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://in.tradingview.com/" target="_blank" rel="noopener noreferrer nofollow">SEI/USD </a>Chart By TradingView
  </figcaption>
 </figure>
</div>
<p>Since the start of March, the coin has witnessed massive volatility, and bears and bulls have been trapped this week. A fake trendline breakout led to bulls being caught, and a fake breakdown with a long rejection wick trapped bears.</p>
<p>The Momentum Indicator (RSI) plunged from the overbought zone, signifying a negative divergence replicating the sudden selling pressure at the resistance zone. Similarly, the MACD indicator shows a bearish crossover and conveys that sellers have maintained their grip near the $1 mark and did not permit the bulls to cross the cluster.</p>
<h3 class="wp-block-heading" id="strong-sei-displays-rejection-can-bulls-retain-the-1-mark-strong"><strong>SEI Displays Rejection, Can Bulls Retain the $1 Mark?</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img loading="lazy" decoding="async" width="1024" height="474" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74-1024x474.png" alt="" class="wp-image-195385" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74-1024x474.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74-300x139.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74-768x356.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74-1536x711.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74-750x347.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74-1140x528.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/03/image-74.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source:<a href="https://in.tradingview.com/" target="_blank" rel="noopener noreferrer nofollow"> SEI/USD </a>Chart By TradingView
  </figcaption>
 </figure>
</div>
<p>The <a href="https://www.thecoinrepublic.com/2024/02/22/sei-price-analysis-token-in-the-bears-grip-but-for-how-long/" target="_blank" rel="noopener noreferrer nofollow">Sei coin (SEI)</a> showcased a volatile move, and the bulls somehow managed to attain a range breakout. However, the bulls could not hold it for long and faced selling pressure, leading buyers into trouble. Until the cluster of $1 does not cross, the volatility may be there, and selling pressure will lead the coin to retest the 50-Day EMA mark near $0.7500.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The Sei price has witnessed a retracement and is hovering near the 50-Day EMA, a rejection from the $1 mark was noted. However, the trend is neutral, and volatile movements may trigger the coin toward the 50-Day EMA mark or the upside of $1 soon.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.8000 and $0.7500</p>
<p><strong>Resistance Levels:</strong>$0.9600 and $1&nbsp;</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.&nbsp;</p>

SEI Faced Rejection From $1Mark, Are Bulls Trapped At Highs?

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