Will Sei (SEI) rise?

Layer-1 blockchain Sei (SEI) has fallen to a key support level following Bitcoin’s decline.

Many altcoins retreated between 15 and 30 percent due to the crypto market decline last week. One of the cryptocurrencies most affected by these declines was SEI.

Although the SEI rallied nearly 30 percent after a major decline on Dec. 20, it failed to hold. The popular altcoin is down 12% since December 21.

AMBCrypto said SEI showed mixed signals and faced uncertainty.

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According to AMBCrypto’s analysis, Sei (SEI)’s long-short ratio is indicating a bullish trend. Despite this trend, conflicting signals began to emerge.

The SEI experienced ascending channel support, a possible indication of an upward trend. Liquidity movement in stock markets attracted attention despite buying from support points.

As the price chart shows, the SEI was subject to selling pressure at the ascending channel resistance level. The recent bearish trend has pulled the popular altcoin back to a support point at $0.43.

AMBCrypto interpreted the price chart as follows:

“Based on technical models SEI’s likely move would be an uptrend, possibly targeting $0.65.”

The analysis predicts that the next move towards the new target will be possible by holding the key support level at $0.43.

Coinglass reports that top traders on Binance are happy with the SEI. The data in question was constructed from long-short rates based on traders’ account balances and position sizes.

The long to short ratio stands at 3.65. This level indicates that the SEI price will increase. AMBCrypto noted that another indicator of a bullish trend is liquidation data. In recent hours, short (fall) liquidation has been higher.

The stock exchange’s net flow showed that spot investors were moving their assets to the exchange in preparation for selling. AMBCrypto drew attention to the possibility of potential selling pressure despite bullish signals.