Saad Ullah
SEI tried to stage a comeback earlier this year, but it's becoming clear that the bounce was just noise in a larger downtrend. After failing to hold gains, the token has slipped back into bearish territory, and traders are now wondering if the recent pump was nothing more than a liquidity trap.
Chart Breakdown: Bears Still Running the Show
Analyst Nebraskangooner recently warned that SEI looks ready to unravel further, and the charts seem to agree.
The weekly chart paints a grim picture. SEI is trading below both its 20-week and 50-week moving averages - classic bear market behavior. The rally toward $0.40–$0.50 got violently rejected with a long upper wick, the kind of candle that screams distribution. Then came the ascending wedge, a textbook bearish continuation pattern, which SEI broke to the downside. Now the coin is testing $0.24 support, with $0.20 looming as the last line of defense before things get ugly.
Why This Breakdown Matters
This isn't happening in a vacuum. The broader crypto market is dealing with tighter liquidity, and smaller altcoins like SEI are getting hit hardest. Without serious buying volume, these coins can't hold rallies. They pump briefly, trap late buyers, then bleed out slowly. That's exactly what SEI's chart is showing right now.
Bulls need to reclaim the $0.30–$0.32 zone with real conviction - not just a quick wick up. If that doesn't happen, the path of least resistance is down. The $0.20 level is probably getting tested again, and if that breaks, there's not much support underneath. For now, the bears are in charge, and SEI needs a serious catalyst to change that narrative.
Saad Ullah
