{"id":434559,"date":"2023-08-29T19:03:49","date_gmt":"2023-08-29T19:03:49","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=434559"},"modified":"2023-08-29T19:03:49","modified_gmt":"2023-08-29T19:03:49","slug":"sei-price-prediction-sei-hovers-at-0-13-dark-horse-of-the-season","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sei-price-prediction-sei-hovers-at-0-13-dark-horse-of-the-season","title":{"rendered":"Sei Price Prediction: SEI Hovers at $0.13 \u2013 Dark Horse of the Season?"},"content":{"rendered":"

Sei (SEI) has slipped off the month’s peak of $0.27 and now hovers around the $0.13 price. Bearish pressure characterized the SEI market over the past few days, with prices fluctuating between $1.3 and $1.4 after relapsing from the day-week high of $1.463.<\/span><\/p>\n

As of 05:35 AM EST today, August 29, SEI traded at $0.12, reflecting a downturn of almost 5% in the past 24 hours. The steep downturn has clouded the market with uncertainty, casting doubts about the token’s ability to soar alongside the recovering crypto market.<\/span><\/p>\n

SEI Continues on Bearish Path – How Are the Bulls Responding?<\/h2>\n

While SEI’s current price reflects a nearly 1500% spike to an all-time high of $0.2736 on August 16 from an all-time low of $0.007989, the token remains under bearish pressure. <\/span><\/p>\n

According to data from <\/span>CoinGecko<\/span><\/a>, SEI has lost nearly 20% of its gains over the past seven days. <\/span><\/p>\n

However, the token’s latest price action suggests a bullish trend reversal is imminent before the day ends. Moreover, its oversold condition presents an attractive entry level for investors, which could create rally opportunities for the token in the coming days.<\/span><\/p>\n

SEI Pressure Halts on Hourly Price Chart. Start of a Comeback?<\/h3>\n

\"SEI\"<\/p>\n

SEI’s price downturn is also evident on the hourly price chart, reflecting the high sell pressure prevailing in the market today. <\/span><\/p>\n

The bears confirmed their stance with the long red candle formed three hours ago. With high momentum, their actions pushed SEI’s price further away from the Exponential Moving Average (EMA). However, the appearance of the short green candle reignites the buyer’s entry into the market.<\/span><\/p>\n

However, the MACD indicator is below the signal line and has formed multiple red histograms, depicting a strong bearish momentum and sell pressure on SEI.<\/span><\/p>\n

Nonetheless, the 27.48 relative strength index reading supports a trend reversal possibility, as the undervalued market condition presents an attractive entry point for buyers in anticipation of future rallies.<\/span><\/p>\n

Therefore, traders could interpret the ongoing market condition as a buy signal, as SEI might be poised for a short-term uptick in the coming days.<\/span><\/p>\n

Data on SEI’s Support and Resistance Levels<\/h3>\n

\"SEI\"<\/p>\n

SEI found support at the $0.12 price level, forming a doji candle, which preceded another green candle. Currently, SEI trades above this key support level, and a little push from the bulls could trigger a move near the $0.127 resistance, a potential take-off point for more rallies. <\/span><\/p>\n

While the above setup indicates a chance for a U-turn, including other indicators is necessary before opening a buy position. <\/span><\/p>\n

BlueMove Plans to Halt Operations on Sei Network: What This Means for SEI’s Price<\/h2>\n

BlueMove, an innovative NFT<\/a> marketplace that operates on both the Aptos and Sui blockchains, recently <\/span>announced<\/span> its intention to cease operations on the Sei network. This decision stems from the relatively lower transaction volumes than initially anticipated.<\/span><\/p>\n

\n

📢 Important Announcement: <\/p>\n

BlueMove will cease operations on Sei Network 72 hours from now, at 4:00 UTC on August 31st, due to the current trading volume on Sei falling short of our expectations.<\/p>\n

During this period, we kindly request all users to delist their NFTs to prevent…<\/p>\n

— BlueMove (@BlueMove_OA) August 28, 2023<\/a><\/p><\/blockquote>\n