SUI & SEI Prices Attempt for a Rebound-Here’s What’s Awaited For Them By the End of the Month

The post SUI & SEI Prices Attempt for a Rebound-Here’s What’s Awaited For Them By the End of the Month appeared first on Coinpedia Fintech News

The popular tokens SUI & SEI have gained immense attention after they demonstrated monstrous moves in the past few weeks. Besides, they managed to attract huge volumes that kept up the bullish momentum of both tokens. Unfortunately, the bears have held the upper hand at the moment and as a result, they have been draining in a bearish well. Now that the tokens have triggered a rebound, will the prices remain elevated until the end of the month?

Sui (SUI) Price Analysis

Sui price has been maintaining a steep ascending trend since the start and has been combating the bearish pressures with ease. After forming a new ATH, SUI price faced a strong rejection, which has dragged the levels lower by over 22%. Although the token is trying to validate a rebound, the bulls may find a better entry-level lower than the current ones.

The weekly chart of SUI shows the price to be in an upward trajectory regardless of the bearish pressures that have been intervening at frequent intervals. The price has dropped significantly and is believed to plunge more to reach the lower support just below $1.5 at around $1.48. This support is expected to breach as the RSI is bearish along with MACD, which is displaying a drop in buying pressure. 

Hence, a drop to the lower support zone around $1.25 appears imminent but as the volume is in the ascending trend, a rebound is imminent. 

Sei (SEI) Price Analysis

Similar to the SUI price, the SEI price faced massive bearish action and breached the interim support zone below $0.4. The bulls are trying very hard to validate a rebound and rise above the support turned to resistance that appears to occur in a short while. Besides, the volume has remained within an average range, which supports the bullish narrative. 

The SEI price has currently dropped below the support of the Bollinger bands and hence a string rebound appears to be fast approaching. The RSI has triggered a bullish divergence but it could be yet another lower high. As a result, the price is believed to test the ascending trend line, which may act as a support or a base to trigger a rebound. With this, the SEI price is believed to reach $0.5 by the end of the month, provided that the token is required to rise above the interim resistance zone between $0.38 and $0.39.