• SEI drops 5.92% daily, extending the weekly decline further.
• Price consolidates tightly between $0.27 and $0.31.
• Trading volume rises 18.81%, showing cautious market participation.
• Open Interest falls 3.32%, indicating reduced leveraged exposure.

SEI continues to face a period of consolidation, trading within a narrow range as volatility remains subdued. The token has dropped nearly 5.92% over the past 24 hours and is down 3.39% over the week. At the time of writing, SEI is trading at $0.2827, showing limited directional bias as traders await a clear breakout signal.

The 24-hour trading volume has risen to $194.68 million, marking an 18.81% increase. However, this activity comes with a slight decline in market capitalization to $1.73 billion, down 6.24%, highlighting mixed sentiment in the market.

The price remains caught between strong support around $0.27 and resistance near $0.31. Several attempts to break above this upper barrier have failed in recent weeks, keeping SEI locked in sideways movement. While short-term weakness persists, the repeated defense of the lower range suggests that buyers may soon step in to protect key support levels, preventing a deeper correction.

Also Read: SEI’s Price Action: Will the Bull Pennant Lead to a $1.50 Breakout?

SEI Market Awaits a Breakout Confirmation

Technical indicators suggest SEI’s consolidation could be approaching a decisive phase. Analysts point to $0.267 as a critical support level that must hold to maintain the bullish structure. A strong rebound from this area could drive the price toward $0.35–$0.36, where the next resistance zone lies.

For this scenario to unfold, SEI would need to confirm a breakout above $0.31 with strong trading volume. Such a move would likely spark renewed confidence among traders, potentially ending the prolonged consolidation.

Conversely, a failure to maintain the $0.267 level may trigger additional selling pressure, exposing SEI to the $0.25 demand zone. This would extend the current sideways phase and weaken short-term momentum. For now, the overall setup remains neutral to slightly bullish, supported by steady base-building patterns that have persisted since August.

Market Sentiment Turns Cautious as Leverage Declines

The broader derivatives market reflects growing caution. The OI-weighted funding rate is -0.0002, implying weak domination by the longs, but no conviction. This weak bullish inclination is consistent with the market’s tentative mood, where the traders are maintaining lightish lengths and waiting for the final validation before the next bullish movement.

However, the recent fall in Open Interest by 3.32% to $261.62 million is evidence of leveraged exposures decreasing. It is a message that the market is closing shorts as the market is unsure and lacks directional moves.

Even as no clear bearish indication has developed, the general sentiment is still bearish. It will remain on the wait-and-see till SEI moves out of the current range, and the market will be keen on listening to any indication of strength around the $0.27 support level.

Also Read: Sei (SEI) Price Prediction: Chart Pattern Signals an Imminent Breakout to $1.15