SEI Dips 2.36% Daily, but Analysts Point to $0.31 as Key Buy-the-Dip Level Before a Breakout Towards $0.44

• SEI dropped 2.36% in 24 hours, with trading volume sliding 29% to $217.84 million.
• The token is consolidating within a symmetrical triangle, trading between $0.31 support and $0.35 resistance.
• Chart projections set upside targets at $0.39, $0.42, and $0.44 if resistance levels are cleared.

SEI, the native token to Sei blockchain has been trending downwards for the last 24 hours. This downward trend has led market analyst to weigh on the next trend with a buy dip position already in place. With 3% weekly gain, the next position is set to record an opposite of the decline to a parabolic rally.

What is the Current Market Action?

Tracking the ongoing price trend at the time this article was written, CoinMarketCap reveals that SEI is trading at $0.3203 after recording a 2.36% decline over the past day. The market cap stands at $1.92 billion, reflecting the same percentage drop. 

Trading volume reached $217.84 million in 24 hours, marking a significant 29.09% decrease compared to the previous session. The price chart shows SEI opening around $0.3236 before moving upward during evening trading, reaching peaks near $0.335. 

However, after the rise, SEI faced downward movement, losing momentum through early morning sessions. The price dropped closer to $0.315 before stabilizing. By midday trading, SEI fluctuated between $0.320 and $0.325, unable to regain earlier highs. The overall intraday trend indicates sustained selling pressure and reduced market activity.

Sei Consolidates Within Symmetrical Triangle Ahead of Breakout Levels

Despite the ongoing dip, market analysts have hinted otherwise with the price set to rebound. According to analysis prepared by Ali Charts, Sei (SEI) has continued trading within a symmetrical triangle pattern, reflecting a tightening range that has developed since mid-July. The token has been moving steadily between higher lows and lower highs, bringing price action closer to the apex of the formation.

Earlier declines took SEI down from levels above $0.40 before bottoming out near $0.26 toward the end of July. From that point, the asset staged a recovery, climbing back toward $0.36, where it met firm resistance. Since the beginning of August, SEI has traded mostly between $0.31 and $0.35, showing repeated rejections on both ends of the range. Fibonacci retracement levels on the chart identify $0.31 as a significant support zone within the structure.

This area aligns with the 0.5 retracement level and remains a focal point for market activity. Resistance has formed near $0.35 and $0.36, marking the upper boundary of the ongoing consolidation. If support holds at $0.31 and resistance levels are cleared, the chart projects upside targets near $0.39, $0.42, and $0.44. These levels correspond with Fibonacci extensions and represent key areas for the next directional move.