- Popular crypto analyst warns SEI may see another major drop due to a lower high in September 2024.
- The crypto market could enter a fire sale before a major bull run in 2025, offering new opportunities.
Popular crypto analyst Alan Santana on TradingView has shared a warning note on the present situation of the SEI coin. Santana claims that March 2024 saw SEI reach its first notable peak.
Still, a bearish trend was verified as the coin fell below its support level. Eventually, this drop caused SEI to reach its lowest price since November 2023.
SEI Faces Potential Decline as Analyst Warns of Final Selling Opportunity
Santana goes on to say that although SEI peaked late September, this peak was noticeably lower than that of March. Once further moving below its support level, the cryptocurrency reflects a bearish perspective.
With October or November 2024 prices below those observed in August, Santana notes that this action below support could set off another notable decline, maybe leading to a lower low. “This is the last time to sell before the drop,” he issues a warning.
Santana’s advice is obvious for investors: guard your capital and guarantee liquidity for next prospects. When prices reach new lows, he underlines the need to have money ready to buy SEI or another cryptocurrency. His analysis indicates that values of cryptocurrency are projected to tumble to levels not seen in years, so the market is about to undergo what he defines as a “fire sale.”
For long-term users, Santana sees this as a chance nonetheless. After this adjustment, he expects the market to move into a bull phase, and 2025 seems to be a great year for the crypto market.
Santana notes that although the expected decline would cause some investors—especially those ignorant of the fundamentals of the market—to lose money, it will also present fresh prospects in a balanced tone.
Reduced prices will inspire fresh market entry by new participants, and the final end of the correction phase will open the path for notable expansion. “It is good because the correction will be over and good because it is the start of the bull market,” Santana notes.
Meanwhile, as of writing, SEI is trading at about $0.3827 and shows a 5.64% increase over the last 24 hours. Also, its daily trade volume also jumped 39%, coming to $126.98 million. This price movement may point to temporary variations inside the more general declining trend.
Other findings concerning the SEI network point to favorable developments as well. A prior CNF report noted that MoonPay’s connection with Sei Network has made buying cryptocurrency easier and allowed a range of payment options like Apple Pay and PayPal.