Karla Barker 
SEI (SEI) is under heavy selling pressure, and its price action is struggling to find solid ground. The token recently broke below the $0.049 support level, and bears appear firmly in control. Derivatives data shows traders are pulling back: Open Interest (OI) dropped 7% to $29 million at press time, suggesting capital is leaving the market rather than flowing in.
Bulls are being forced out
Long liquidations have spiked as SEI failed to regain upward momentum. In the last 24 hours alone, long liquidations reached $553.2 thousand. That figure is notable when compared to the volume of short sellers being forced out of their positions. Many traders were positioning for a rebound, but the recent weakness has forced some of those bullish bets to close. As more liquidations happen, additional selling pressure is created, making it even harder for the price to stabilize.
Over the past few sessions, this trend has become increasingly hard to ignore. The steady decline in Open Interest suggests that fewer traders want to stay exposed to SEI at current levels. Rather than buying the dip, many seem to be waiting for clearer signals before returning to the market. That hesitation is giving sellers more room to stay in control.
What comes next for SEI?
Right now, the bears have the upper hand. The token’s price is trading aggressively below key Exponential Moving Averages (EMAs), which typically serve as support levels. The combination of falling OI and rising long liquidations rarely signals a bullish turnaround. Unless demand returns and liquidation pressure begins to ease, SEI could remain vulnerable to further downside in the short term.
Traders, for now, aren’t focused on the next rally. They’re watching to see whether the market can find a reason to stop selling. If conditions change and bulls manage to build enough momentum, a retracement to fill the imbalance zone around $0.06 is still possible. But that outcome remains uncertain, and the immediate path looks cautious at best.