SEI drops 7% after Robinhood listing despite prior 15% weekly gain; support at $0.19 may lead to rebound toward $0.31.
Sei Network’s native token SEI recently listed on Robinhood, attracting interest from over 25 million users on the platform.
While the listing was expected to trigger a strong price rally, SEI fell by over 7% following its launch. The decline comes amid a broader market downturn linked to macroeconomic uncertainty, though some analysts suggest a potential recovery could be possible if support levels hold.
SEI Lists on Robinhood but Faces Market Pressure
Sei became available for trading on Robinhood, one of the largest retail trading platforms globally. This expands SEI’s exposure to a much wider audience, potentially improving long-term adoption. Robinhood currently manages over $200 billion in assets and has supported the rise of several other tokens in the past.
Despite this, SEI fell after its debut, dropping 7% in 24 hours. The token had previously gained 15% in the week leading up to the listing. The market-wide downturn likely played a role in weakening short-term demand, limiting the initial impact of the Robinhood announcement.
The broader crypto market also declined during this period. A Federal Reserve update warned of possible delays in interest rate cuts, triggering a sharp selloff. Over $1.2 billion in long positions were liquidated, and total market capitalization dropped by $200 billion, affecting all major tokens, including SEI.
Technical Indicators Suggest Possible Recovery
SEI is trading near $0.19, which some analysts see as a key support level. The Relative Strength Index (RSI) stands at 35.98, suggesting bearish conditions but nearing an oversold level. A MACD crossover also indicates early signs of possible upward movement.
Analyst Ali recently shared that the TD Sequential indicator has shown a buy signal on SEI. He explained that if the token stays above $0.19, it may push toward $0.31. His chart points to a short-term reversal if buying pressure builds again.
If SEI remains above $0.160, technical charts suggest a move back toward $0.20 could happen. If the market sentiment improves and SEI holds above $0.250, the next price target could reach $0.30. This depends on buyer momentum and broader market support.
Broader Market Conditions Weigh on Altcoin Momentum
The crypto market dropped 1.76% on October 31 after the Federal Reserve signaled ongoing inflation concerns. Bitcoin fell below $110,000, and Ethereum dropped under $3,900. These declines weighed heavily on altcoins, including SEI.
The $640 million in sudden liquidations added downward pressure across exchanges. Many traders reduced positions, expecting further uncertainty in rate decisions and inflation trends. This risk-off environment limited gains for newly listed tokens.
Although SEI has not yet seen a rally, some analysts believe that the Robinhood listing strengthens long-term prospects. Broader adoption, paired with future market recovery, may improve its price action in the coming weeks. Traders are watching key levels closely for confirmation.
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