SEI price has surged by 10% in the last 24 hours with increasing trading volume. SEI has dropped over 82% from its November 2024 high of $0.74, now trading around $0.20 with strong bearish pressure. SEI price is experiencing a strong bearish pressure because it is trading close to the critical support areas at $0.1299. Since hitting its highs around $0.7400 in late November 2024, the altcoin has been caught in a long-term downtrend, which translates to a massive loss of more than 82% of its highs. In terms of a moving average, the bearish trend continues to prevail as the price continues to trade below the 50-day EMA of $0.2622 and the 200-day EMA. The moving averages themselves are also in a bearish formation, with the 50-day EMA far below the 200-day EMA, which validates the long-term bearish trend formation. This forms a major resistance area that SEI would have to recapture to indicate any serious turnaround. As per the CMC data, SEI is trading at the price of $0.2003 with an intraday surge of 10%, suggesting buyers’ presence. Moreover, the daily trading volume has increased by 60%, currently at $221 million. The recent price surge and increasing trading volume suggest buyers are taking an interest in SEI at current levels. What’s Next For SEI Price? Source: Tradingview The RSI indicator is at 53.23, which is neutral, and the 14 SMA line is slightly oversold. Although this indicates that the asset is not very oversold, it is also not enough to have a long-term recovery. The RSI has been moving within a range of 30-60 over the past few months, indicating the sideways consolidation period that commenced in February 2025. The MACD histogram indicates that there was recent bearish momentum as the indicator was below the zero line at -0.0067. The MACD line is seemingly coming close to the signal line, which is an indication of possible short-term stabilization. A bullish crossover has been observed between the MACD line and signal line, which hints bull presence at lower levels. Social sentiment indicators give mixed signals with recent negative sentiment in the lower panel, but this has been alternating between positive and negative readings over the consolidation period. The price action in the present indicates that SEI is testing important support in the area of the $0.12-$0.16. A violation of these levels may result in additional losses to psychological support at $0.10. On the other hand, any recovery effort would have to clear the near-term obstacle at $0.21 to test the moving average cluster near $0.26. To traders, the present arrangement is more favourable to a wait-and-see strategy, either a break out below support with an opportunity to take short positions or a convincing reclaim of the $0.20 level with volume confirmation to take long positions. The long consolidation phase indicates that a major shift could be in the offing.