SEI token is testing a critical weekly support level at $0.05566, with analysts noting a potential reversal if bulls defend the zone. Technical indicators currently show bearish momentum, with the price below the 20-day moving average and the MACD in negative territory. In a separate development, the cryptocurrency exchange Kraken has added support for USDC and USDT on the Sei EVM network.
SEI is testing the lower boundary of a descending channel on the weekly chart at a key support zone. Analyst Jonathan Carter stated the bulls are defending this level, with early signs of stabilization suggesting weakening bearish momentum.
If support holds, potential upside targets are identified at $0.105, $0.145, $0.205, $0.360, and $0.480. A break below the support level would invalidate this view for the asset. Currently trading at $0.05566, SEI remains below the 20-day moving average of $0.06346, confirming a bearish trend.
The MACD indicator also confirms the bearish view, with its lines remaining below the zero level. A recent 5.51% decline has turned the histogram red again, showing no major trend change. Separately, the Kraken exchange added support for USDC and USDT deposits and withdrawals on the Sei EVM network as of Wednesday, March 25.
Sei is a high-performance blockchain that offers Ethereum Virtual Machine compatibility. Kraken’s integration is seen as a gateway to decentralized finance, allowing for more efficient trading.
