Sei (Sei) Market Analysis

Sei (SEI) has been experiencing a protracted decline over the past several weeks, regaining key levels while the market continues moving sideways. Today, market analyst MACrypto Alex disclosed that SEI is trying to break above a short-term downward momentum as selling pressure decreases.

SEI (SEI) has been on a downtrend for several weeks, finding support at key levels as the market moves sideways. Now, market analyst MACrypto Alex reveals that SEI attempts to break out of short-term bearish momentum amid decreasing selling pressure.

$SEI trying to break out of its short term downtrend.

Trump’s project bought it a few days ago and since then it has shown some signs of recovery.

A 12H close above $0.29 and SEI will start rallying hard pic.twitter.com/MTngadfFGt

SEI showing recovery

SEI showing recovery

According to MACrypto Alex, new buying activity may be pushing the asset’s price up. As the analyst highlights, World Liberty Financial, a crypto DeFi project backed by President Trump, bought SEI a few days ago, and since then, the asset has shown signs of recovery.

On Feb.20, World Liberty Financial (WLFI) bought 547,990 SEI tokens for the first time, spending $125,000 in USDC. While the purchase was made as part of the project rebuilding its portfolio, it showed confidence in the SEI DeFi token. The recent large purchase shows strong interest in the digital asset, indicating that other whales are buying more SEI tokens.

If the SEI price manages to reach $0.29, it could start seeing strong upward momentum, the analyst noted.

SEI price analysis

SEI has been seeing a strong correction, dropping 23.7% over the past 30 days. Despite this recent decline, the DeFi token has shown an impressive 12.9% increase over the past week.

The asset’s price is currently changing hands at $0.2698, showing a possible trend reversal. The recent price surge suggests that SEI is once again preparing for a potential breakout from the ongoing downtrend.

On-chain data is starting to show promising signs for SEI. The Chaikin Money Flow Index is at +1, showing increasing buying pressure. As the index has turned into a positive (+) sign, this indicates a bullish change in the market.

One interesting factor that is contributing to SEI's potential uptrend is whale activity. As covered, a large whale (World Liberty Financial) purchased a massive amount of SEI tokens three days ago. The whale's recent activity is seen as buying pressure on SEI.

This large purchase highlights strong bullishness for SEI's future price. The whale's accumulation also reduced the circulating supply, potentially aiding in a price increase. Large investor buying activity usually shows positive sentiment and can be a catalyst for further price increases.

If SEI can break past the critical resistance at $0.3168, the next major hurdle will be the key resistance zone at $0.369. If it can cross the psychological level of $0.360, it will trigger buying pressure and embrace an uptrend.