$SEI The recent trend is quite interesting. The price has already broken through the key support of $0.1206, and it may even continue to test the bottom at $0.0689. At first glance, the spot market does seem a bit sluggish.
But there is a detail worth noting here — the trading activity in derivatives is actually warming up. The 24-hour trading volume has reached $32 million, and open interest is also increasing. This is not a signal of market collapse; rather, it indicates that a group of people are leveraging their bets, creating a strong speculative atmosphere.
Additionally, the trading by large players in the spot market remains very active, which indicates that large institutions have not completely exited. They are secretly positioning themselves at key levels. The momentum indicators have recently eased, and the selling pressure is not as fierce.
The key is whether the rebound can stand above $0.1261—if it can break through this level, it will give the market a shot of adrenaline, and a potential recovery signal will truly appear. If it cannot rise, downward pressure will continue to plague this cryptocurrency.
