Resistance

Gains

<ul class="list-ic vertical">
 <li><span>1</span> <a>SEI price dragged toward the demand zone of the $0.5200 mark.&nbsp;</a></li>
 <li><span>2</span> <a>Technical indicators suggest a possible rebound.</a></li>
</ul>
<p>The SEI price signified the follow-decline and dragged toward the 200-day EMA mark, directing underperformance for the past sessions. However, the trend is neutral, and a pullback is anticipated.</p>
<p>Following the market bearishness, the token has witnessed retracement, sellers have added short positions, and buyers are staying on the backfoot. However, there is a make-or-break situation for the buyers to hold out the gains ahead.</p>
<p>At press time, the SEI token (SEI) price traded at $0.5223&nbsp; with an intraday drop of 1.28%, reflecting follow-on selling pressure for the past sessions. It has a monthly return ratio of -32.20% and 715.35% yearly.&nbsp;</p>
<p>The pair of SEI/BTC is at 0.00000902 BTC, and the market cap is $1.40 billion. Analysts are neutral and suggest that the SEI crypto may hold the gains and will replicate a bounce soon.</p>
<h2 class="wp-block-heading" id="strong-will-sei-strong-strong-price-retain-gains-beyond-0-5500-mark-strong"><strong>Will SEI </strong><strong>Price Retain Gains Beyond $0.5500 Mark?</strong></h2>
<p>The SEI token remained under pressure for weeks, and sellers dominated the battle. Additionally, the token replicates sharp retracement from the supply region of $0.9000 and corrected over 35% in the last month.</p>
<p>However, the token has regressed to the 200-day EMA mark, and a double bottom pattern was spotted on the charts.</p> <iframe loading="lazy" title="Santiment Chart: Price (SEI), Volume (SEI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=toncoin&amp;pt=TON&amp;df=2023-11-02T18%3A29%3A59.668Z&amp;dt=2024-05-02T18%3A29%3A59.668Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Bsei%3BSEI%5D%3B%5B1%3Bvolume_usd%3Bsei%3BSEI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The trading volume remained lower, signifying low investor interest and fear among the investors. The intraday trading volume dropped over 13.27% to $217.83 Million.</p>
<p>Per the analysis of technical indicators, 14 indicators have given a sell rating, 10 have given a neutral call, and 2 have given a buy call.</p>
<h3 class="wp-block-heading" id="strong-price-volatility-and-weighted-sentiment-outlook-strong"><strong>Price Volatility and Weighted Sentiment Outlook</strong></h3>
<p>Amidst the price retracement, the <a href="https://www.thecoinrepublic.com/2024/05/01/neo-price-near-trendline-support-can-bulls-initiate-pullback/" target="_blank" rel="noopener noreferrer nofollow">price</a> volatility curve stayed below the midline, signifying lower selling pressure this week. The price volatility curve dragged over 3.78% to 0.02.</p> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (SEI), Weighted sentiment (Total) (SEI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=toncoin&amp;pt=TON&amp;df=2023-11-02T18%3A29%3A59.668Z&amp;dt=2024-05-02T18%3A29%3A59.668Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Bsei%3BSEI%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Bsei%3BSEI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe>
<p>However, the weighted sentiment looks neutral, and the curve stays close to the midline, near -0.363. The selling pressure remained intact until the token had not crossed the $0.5500 mark.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-development-activity-and-derivative-data-insights-strong"><strong>Development Activity and Derivative Data Insights</strong></h3>
<p>The development activity data signified a consistent up move and stayed above the midline. It was around 56.74, displaying significant trading and investor activity over the past few weeks.</p> <iframe loading="lazy" title="Santiment Chart: Development Activity (SEI), Total Open Interest in USD (SEI)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=toncoin&amp;pt=TON&amp;df=2023-11-02T18%3A29%3A59.668Z&amp;dt=2024-05-02T18%3A29%3A59.668Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bdev_activity%3Bsei%3BSEI%5D%3B%5B1%3Btotal_open_interest%3Bsei%3BSEI%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>However, the derivative data showcased long unwinding data, and the open interest dropped over 1.23% to $51 million during the intraday session.&nbsp; Per the Fib levels, the SEI price trades near the 23.6 % support zone and has slipped below the mid-Bollinger Band, directing underperformance.</p>
<p>The total supply of SEI crypto is 10 billion, whereas the volume-to-market cap ratio is 0.157, ranked 67 in the global crypto market cap.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The SEI price trades near the demand zone of $0.5200 and is readying for a significant bounce. Moreover, the correction has ended, and buyers have begun accumulation, which may lead to a short-term bounce ahead.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $0.5100 and $0.5000</p>
<p><strong>Resistance Levels:</strong> $0.5400 and $0.5500</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 Price Near 200 Day EMA: Breakdown or Rebound, What’s Next?

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Thecoinrepublic.com

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