SEI's Crypto Price Rebounds Slightly, Traders Remain Cautious
SEI's cryptocurrency price has shown a slight recovery, rebounding from lows near $0.26. However, the momentum is lacklustre, and the market mood is cautious. The coin is currently trading at $0.29, down 2.11% in the past 24 hours, with a market capitalization of $1.79 billion.
SEI's open interest has stabilised at around $118 million, suggesting a 'wait-and-see' approach from traders. Daily trading volume is moderate, at $158.9 million, not typically associated with significant price movements. Momentum indicators are cautiously neutral; the MACD line is only marginally above the signal line, and the histogram prints -0.0001. The circulating supply of over 6.12 billion tokens suggests liquidity, but recent price action indicates traders are reducing their risk. The daily chart of SEI/USDT shows neutral capital flows, with the Chaikin Money Flow (CMF) at 0.00. There are no recent reports of trading companies or institutions opening significant positions to influence SEI's price behaviour.
SEI's near-term outlook is fragile, with both technical and derivatives data indicating caution. While the price has rebounded from lows, the lack of aggressive new positions and moderate trading volumes suggest that a breakout rally is unlikely in the near future. Traders are advised to monitor the situation closely.
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