SEI Prints 9 Red Weekly Candles, Eyes $0.035 Support

⬤SEI is deep in bearish territory after printing nine consecutive red candles on the weekly chart. The latest price action shows SEI drifting toward the lower boundary of a long-term descending macro channel. The setup puts the token at a critical inflection point where the next move could either stabilize the trend or accelerate the downside.

⬤The weekly structure tells a familiar story: a strong rally followed by a drawn-out decline marked by lower highs and persistent selling pressure. SEI has been trading beneath a descending resistance trendline while multiple moving averages slope downward, keeping the broader bias firmly bearish. That slow grind lower has brought the price progressively closer to the channel’s floor, a level that has historically triggered reactions in previous market cycles.

⬤If selling pressure holds, the technical projection points to a potential move toward the $0.035–$0.040 range in the coming weeks as the macro channel retest plays out. This aligns with earlier coverage in SEI Tests $0.065 Demand Zone After 94% Drop From 2024 High, which flagged the token approaching major structural support after a sharp correction from previous highs.

⬤The macro channel continues to dictate SEI’s long-term price behavior, and how the asset responds near the lower boundary carries real weight for what comes next. Past technical setups have pointed to similar pivotal zones, including SEI Price Analysis: Bullish RSI Divergence Signals Potential Rebound from $0.069, where analysts focused on key demand areas that could shape the next leg of SEI’s market cycle.