Sei Coin continues to hover near its recent lows after several weeks of persistent selling pressure. The token has been in a controlled downtrend since mid-September, losing momentum after repeated failures to hold above resistance at $0.22.
The extended bearish structure has pushed the asset into an accumulation phase, where traders are now gauging whether the current range between $0.18 and $0.22 will act as a base for a potential recovery or a continuation of the decline.
Open Interest Drop Signals Cooling Speculative Activity
On one hand. The 4-hour chart highlights a consistent series of lower highs and lows, confirming that sellers remain in control. However, after a liquidity flush near $0.15, the token managed a modest rebound, showing early signs of stabilization. This behavior suggests that while bearish sentiment persists, the downside momentum may be weakening as the market approaches a potential equilibrium point.
Source: Open Interest
Data from derivatives markets show a sharp contraction in open interest, now resting at 58.7 million, down significantly from earlier levels this month. This drawdown points to widespread position liquidations and a general unwinding of speculative leverage.
In similar historical contexts, such declines often signal that traders have exited riskier positions, leaving the market less prone to extreme volatility. With leverage flushed out, the coin could be entering a calmer phase, where organic spot demand becomes the primary driver of price action.
Market Data Points to Stabilization Amid Bearish Pressure
According to BraveNewCoin, Sei trades at $0.19, with a 1.06% 24-hour increase, placing its market capitalization at $1.21 billion and daily trading volume near $82.4 million. The token currently ranks 99th globally, with a circulating supply of 6.24 billion tokens. Despite modest intraday improvement, the overall sentiment remains subdued, reflecting cautious participation from market players awaiting clearer signals of reversal.
Source: BraveNewCoin
Liquidity across exchanges remains balanced, and there is no immediate evidence of large inflows, reinforcing the idea that the market is still digesting previous losses. While speculative leverage has cooled off, any resurgence in buying volume could mark the early stages of a rebound attempt.
Technical Indicators Suggest Oversold Conditions With Recovery Potential
At the time of the report, the coin traded at approximately 0.1947 USDT, reflecting a 0.36% decline from the prior close. The Bollinger Bands highlight that price currently sits below the basis line at $0.2463, hovering close to the lower band at $0.1603.
This placement underscores strong selling pressure but also suggests that SEI is nearing the lower end of its volatility envelope, a zone that often precedes periods of consolidation or short-term reversal.
Source: TradingView
Momentum readings reinforce this view. The Relative Strength Index (RSI) stands at 31.26, while its moving average reads 34.56, both hovering just above oversold territory. These readings signal that selling momentum could be reaching exhaustion, with room for a potential technical rebound if demand strengthens.
