Sei (SEI) has been under pressure throughout September, closing the month with a 4.3% decline.
At the time of writing, the token is trading around $0.276, giving it a market capitalization of $1.69 billion. Despite the monthly losses, the network still holds its position as one of the top 70 cryptocurrencies by market value.
The broader trend shows SEI struggling to stay above the $0.30 mark after multiple failed attempts earlier this month. A steep correction pushed the price down from mid-September highs of nearly $0.37, wiping out short-term gains and testing support near $0.27.
On-chain data and market sentiment indicate that investors are waiting for a clear breakout from this consolidation range. While the short-term chart looks weak, technical analysts believe that SEI may be preparing for another leg higher.
Market analyst Ali highlighted that SEI recently bounced off the lower boundary of its trading channel, a move that could open the way for a climb toward $0.34 if momentum strengthens. The $0.30 level remains the first hurdle to watch, as a decisive close above it may attract further buying interest.
Still, the market remains volatile, and any renewed weakness in the crypto sector could pressure SEI back toward its support zone. For now, traders are watching the $0.27-$0.28 range closely to determine whether the token is ready to recover or faces another dip.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/sei-price-outlook-breakout-signal-emerges-after-market-dip/