SUI and SEI Prices Faced a Gigantic Downturn in the Past Week, Which Seems to Have Collapsed the Bullish Momentum

While the possibility of a rebound remains pretty high, a rise beyond a range could revamp a strong ascending trend

The prices of SUI and SEI have both faced a significant downturn in the past week, which seems to have collapsed the bullish momentum that was observed earlier. However, both tokens have been rising rapidly, and despite the recent bearish pressures, the possibility of a rebound remains pretty high.

Sui (SUI) Price Analysis

The SUI price has been maintaining a steep ascending trend since the start of the year and has been combating the bearish pressures with relative ease. After forming a new all-time high (ATH) at around $2.25 on March 15, the SUI price faced a strong rejection, which has dragged the levels lower by over 22%.

At the time of writing, the SUI price is trading at around $1.75 and is showing signs of recovering from the bearish pressures. The token is now attempting to validate a rebound, and 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 expected.

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.

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