The cryptocurrency market as a whole experienced a decline, with SEI (Special Economic Initiative) joining the downward trend. Trading is currently around $0.21 following a 5% drop over the past 24 hours, which has led to daily trading volume surging by more than 11%. If bearish pressure intensifies further, SEI prices are expected to slide back towards their recent lows. Notably, SEI isn’t alone in its dip; both Bitcoin and Ethereum also saw a decline of over 5%. 5.3% decrease was registered within the last 24 hours for SEI alone. However, some optimism lingers as trading volume has spiked by 11.22% reaching $224.2 million. In early trading, the asset touched highs above $0.2392 but fell to a low of $0.2125 before settling at around $0.2155, according to CoinMarketCap. The market cap currently sits at $1.3 billion. Analysis by Ali Chart suggests SEI has been in a long-term downtrend, with the descending trendline signaling resistance and preventing upward momentum. A break above this downward trend could signal a stronger rally, but for now, prices remain below it. Will SEI find support soon? 5 indicators provide insight: 1) MACD is positioned below zero, indicating a bearish trend. 2) Chaikin Money Flow (CMF) at 0.13 shows moderate buying pressure in the market. 3) The Bull-Bear Power (BBP) reading of -0.0177 indicates slight negative sentiment. 4) SEI’s RSI is at 37.17, suggesting it’s slightly oversold and leaning toward neutral. 5) The daily Relative Strength Index (RSI) for SEI shows a current bearish trend.