The price of SEI has been in a strong downward trend in recent months, but technical and fundamental indicators suggest that a rebound may be possible.
SEI (SEI), a layer-1 token, fell to a minimum of $ 0.1722 this week, down more than 70% compared to its highest level in December.
According to Defi Llama, the decentralized or DEFI financing ecosystem of sei fits on all cylinders.
The total value locked in the network increased to a record summit of $ 340 million – a significant increase considering that it was up to $ 170 million in February. This is also a major realization because most layers of layer 1 and layer 2 lost assets during the current cryptography accident.
Most players in the SEI ecosystem have added assets this month. Yei Finance, a higher loan protocol of the network, has accumulated almost $ 200 million in assets, up 90% compared to the same period last month.
Sailor, a Dex network, has $ 53 million in assets, while Stargate, Dragon Swap and Avalon Labs also added assets.
The price of SEI can also obtain a boost of the increase in token demand. Donald Trump’s World Liberty Financial recently acquired Sei Tokens worth $ 100,000 – a sign that the team sees the value of the token.
Technical analysis of the price sei
The daily graph shows that the price of SEI has been in a strong downward trend in recent months. It went from a summit of $ 0.7343 in November to a minimum of $ 0.20 this month. The token remains below the exponential medium -sized moving of 50 days and 25 days.
The token formed a double -bottomed pattern at $ 0.2038, with a neckline at $ 0.7343. A double background is one of the most popular bullish reversal models on the market.
SEI also formed a bullish divergence scheme. The MacD indicator continued to increase even if the price has dropped. Likewise, the relative resistance index formed a series of highest and higher ups.
Therefore, the token will probably bounce back in the coming days, with the next point to look at $ 0.7343, its highest swing in December. This objective is around 265% above the current level. A decrease below the support at $ 0.180 will invalidate the raised view.
