Sei Coin Eyes Recovery Toward $0.22 as Open Interest Declines and Buyers Defend Key Support
Brave New Coin
Sei Coin is consolidating between $0.18 and $0.22 following a drop in open interest, suggesting speculative activity is cooling off.Summary
Sei Coin is currently in an accumulation phase, trading around $0.19, as traders watch if the $0.18 to $0.22 range will form a base for recovery after a bearish structure pushed prices lower. A significant drop in derivatives open interest, now at 58.7 million, indicates that speculative leverage has been flushed out, potentially reducing extreme volatility.
Market data shows a modest 24-hour increase, but overall sentiment remains subdued. Technically, the price is near the lower Bollinger Band ($0.1603) with the RSI at 31.26, suggesting oversold conditions that could precede a short-term reversal or consolidation, provided buying volume emerges to defend key support levels.
(Source：Brave New Coin)