SEI cryptocurrency stabilizes around $0.05578 as analysts identify key support and resistance levels amidst ongoing downtrend. Futures volume and open interest data show increased trader activity, while technical indicators suggest easing selling pressure.
Analyst Profit Demon highlighted that SEI remains positioned above the lower boundary of a descending channel on the weekly chart. This support zone is a critical area for short-term direction, with sustained holding potentially allowing the price to stabilize.
Another analyst, More Crypto Online, mentioned that SEI remains within a defined downtrend, moving below a descending resistance trendline that limits upward movement. The current structure indicates resistance remains active, requiring a confirmed break above the trendline to shift momentum.
On the lower side, attention remains on the next support zone, with the 123.6% Fibonacci extension level near $0.045 being monitored. If momentum strengthens, several upside levels are being tracked, including $0.07, $0.10, $0.15, $0.20, $0.27, $0.36, and $0.52.
CoinGlass data shows futures volume increased by 26.02% to $64.98 million. Open interest also rose by 4.15% to $54.92 million, signaling fresh positions, while the OI-weighted funding rate stands at -0.0157%, reflecting slight bearish positioning among leveraged traders.
The Relative Strength Index (RSI) is at 46.38, below the neutral 50 level but above its moving average of 41.48, showing easing selling pressure and mild recovery. The Moving Average Convergence Divergence (MACD) shows a stabilizing structure, with the histogram reading 0.00075, indicating reduced selling pressure.
