SEI Network Witnessed a Massive Pullback of 12%

The SEI network has witnessed a massive pullback of 12% over the past 24 hours. Currently, the downfall is nearing the $0.20

The SEI network has seen a massive pullback of 12% over the past 24 hours. Now, the downfall is nearing the $0.20 psychological mark as the current market price remains at $0.2180.

With a billion-dollar market cap, SEI is the 69th biggest cryptocurrency in the market. While the SEI token price performance remains questionable, the growing SEI network hints at a possible bullish comeback. Will this potential recovery drive SEI price to $0.50?

SEI DEX Volume Hits $65 Billion Milestone

As the crypto market remains highly volatile due to the announcement of the US crypto reserve and the global tariff wars, the SEI network is taking gradual steps to recovery. The network has registered a DEX volume of $65 billion, which marks an increment of 11.25% in the past 30 days.

Majority of the DEX volume in the SEI network comes from CETUS, accounting for nearly $40 billion. Over the past 12 months, the DEX volume in SEI has seen a parabolic rise and a consistent growing trend, increasing the chances of reaching a record volume of $100 billion.

Analyst Points Out 3x Rally Chances

Along with the rising DEX volume, Mati, a crypto analyst, highlights the possibility of a bullish reversal in SEI. Based on his recent tweet, the recovery run in SEI is challenging a crucial resistance after bouncing off from a local support trendline.

Furthermore, the SEI price turnaround comes from a massive demand gap seen between $0.15 and $0.20. As per his two-day price chart analysis, the bullish turnaround is likely to challenge the overhead resistance trendline of the previous swing highs.

Hence, if the market stabilizes after the recent surge in volatility due to the tariff wars and uptrend issues, the analyst anticipates a retest rebound to $0.60 for a 3x price rally.

SEI Price Analysis and Key Target Levels

In the daily price chart, SEI price trend is down by 5.04% today, following the 15.52% pullback yesterday. The bearish turnaround from the local resistance trend line has undermined the weekend recovery and is back to retesting the demand zone near $0.2185.

Supporting the chances of a bullish reversal within a descending triangle pattern, the daily RSI line reveals a bullish divergence. This increases the possibility of a triangle breakout rally to reach the 200-day EMA line near $0.40.

Moreover, the $0.40 psychological mark is coinciding with the 38.20% Fibonacci level. However, a slipdown will likely breach the $0.20 psychological support and test the $0.15 mark.