SEI price has dropped 33% from its mid-July peak, but analyst is saying this could be the final shakeout before SEI sets off to a rally toward $4.
Summary
- SEI price dropped from $0.39 to $0.26 on August 2, a 33% decline.
- Despite the pullback, SEI formed a higher low, keeping the uptrend market structure intact.
- According to analyst Ali Martinez, this drop may be the last shakeout before SEI sets off to $4.
Sei (SEI) price has dropped 33% from its mid-July peak of $0.39 to a low of $0.26 on August 2. Despite the sharp pullback, it formed a higher low compared to the previous one and rebounded to $0.30. Some quick profit-taking followed, bringing SEI price down to $0.28 at press time, though it continues to respect the newly established ascending trendline.
SEI price is currently testing the 7-day EMA, hovering just below it, while trading volume remains subdued—down 30% over the past 24 hours.
SEI price prediction
However, the latest 30%+ pullback may be good news because it could be the last shakeout before a major rally. According to crypto analyst Ali Martinez, SEI’s current price action closely mirrors the structure of SUI last year, when a final dip set the stage for a powerful breakout. In that scenario, SUI surged from a similar consolidation phase to hit new highs, ultimately rallying toward $5.
If SEI follows SUI trajectory, the recent drop to $0.26 may have cleared out weak hands, setting the stage for a breakout once it pushes above the $0.39 resistance.
As crypto.news predicted earlier, crossing this resistance could trigger a strong bullish run toward the next key target near $0.43, aligning with the 50% Fibonacci retracement level. This level could mark the swing high on the next leg up currently forming, potentially setting off the predicted rally to $4.
