WikiBit 2025-11-24 04:27Sei continues to hover near multi-week lows after an extended downtrend that has gradually cooled in momentum but still lacks any signs of strong bullish
Sei continues to hover near multi-week lows after an extended downtrend that has gradually cooled in momentum but still lacks any signs of strong bullish interest.
Price action has shifted from a steep decline into a tight consolidation range, reflecting a market attempting to find balance after heavy selling. Despite a modest 24-hour uptick, broader indicators show that traders remain cautious, with no clear catalyst yet to revive participation or reverse the trend.
Open Interest Decline Confirms Weak Momentum and Risk-Off Behavior
On the 1-hour chart, SEI/USD has spent several sessions trending downward, breaking through the mid-range support around $0.145–$0.150 before losing further ground. The market eventually found temporary stability near $0.131, where candles have become smaller and price action has drifted sideways.
This flattening of volatility indicates that selling pressure has eased, although buyers have not yet returned with conviction.
Source: Open Interest
Open interest behavior reinforces the broader hesitation. Aggregated OI has slipped from above 42 million to roughly 41.69 million, forming a consistent downward slope that aligns with the price decline. A falling OI during a falling market typically indicates that traders are closing positions rather than aggressively shorting, suggesting exhaustion rather than renewed speculative pressure.
The flattening of OI toward the right-hand side of the chart reveals a market in low-engagement mode. With few new positions opening, traders appear to be sitting on the sidelines, waiting for a clearer directional signal before committing capital. Until participation returns, the coins sideways behavior is likely to continue with limited volatility.
BraveNewCoin Data Shows Mild Recovery but Limited Fundamental Shift
BraveNewCoin lists Sei at $0.13, marking a 1.50% rise over the past 24 hours. While this uptick offers a brief pause from recent losses, it does not constitute a shift in the broader structure. The coin maintains a market capitalization of $844.39 million, supported by an available supply of 6.37 billion tokens. Daily trading volume sits at $62.3 million, indicating moderate liquidity but lacking the influx typically seen during market reversals.
Price action across the broader timeframes reflects a similar story to the intraday charts: the token is ranging within $0.129 to $0.134, mirroring a consolidation period after significant downside. This narrow drift, paired with low volatility and stable volume, is characteristic of a market waiting for external catalysts, such as ecosystem updates or shifts in sentiment within the broader altcoin landscape.
Despite its modest rebound, the coin remains far from reclaiming previously lost levels, and traders will require stronger trend confirmation before considering a sustained directional move. Buyers must defend the $0.13 zone while securing consecutive higher lows for the trend to show a genuine sign of recovery.
Technical Indicators on TradingView Highlight Ongoing Vulnerability
TradingViews SEI/USDT chart shows the token sitting at approximately $0.132, maintaining a position well below the Bollinger Band basis at $0.1598. Price has repeatedly pressed near the lower Bollinger Band at $0.1258, demonstrating persistent selling pressure and potential oversold conditions. The overall structure remains bearish, particularly given the extended period spent beneath the middle band since late September.
Source: TradingView
MACD momentum supports this bearish bias. While the histogram remains negative, it has begun to show signs of contraction—indicating that momentum may be weakening but has not reversed. The MACD line continues to sit under the signal line, offering no bullish crossover or divergence that would typically signal a shift in momentum or the beginning of a recovery phase.
Support remains at the recent swing low of $0.0683, a level that would signal deeper capitulation if reached. Resistance sits near the Bollinger band around $0.1598, a critical threshold the asset must reclaim to establish any real bullish structure. Until a breakout above the basis occurs—ideally paired with growing OI and a MACD crossover—the coin remains at risk of further drift or sharp liquidity-driven moves.
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