Sei Network [SEI] price saw rejection repeatedly around the $0.20 zone. This resulted in a quick downtrend, and that validated this level as a strong resistance.
SEI stood at $0.1477, below the $0.1578 support level. That indicated the continuation of a potential price decline.
The brief lift to the $0.1683 resistance area did not indicate a change in the downtrend since price failed to stay above this area.
The decline could extend to the $0.1250–$0.1350 area. That is if the bearish market forces keep building up.
SEI price chart | Source: Trading View
The reduced market volume stood out as lower than typical levels signifying faint buying activity.
As SEI dipped to $1471, breaking below $0.1560, it likely that the negative sentiment could strengthen bearish momentum towards the red zone.
However, a comparison of the 3-day charts of SEI to that Solana showed intriguing similarities despite the bearish conditions in the market.
This showed a strong uptrend starting f
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