Sei Price Forecast: Will Robinhood Listing Spark a Rally?

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Sei Price Forecast: Will Robinhood Listing Spark a Rally?

Highlights

  • Robinhood listing expanded exposure but failed to trigger a rally.
  • Technical indicators suggest a possible reversal if $0.19 support holds.
  • Market-wide selloff, inflation fears dampened SEI’s short-term momentum

Sei price slipped despite recent optimism around its Robinhood debut, falling 4% in the past 24 hours. The token initially rallied 15% over the week leading up to the listing, but plunged 7% post-launch.

The broader cryptocurrency market experienced the same pressure, dropping by 1.76% on October 31. The pressure was put on the market after the Federal Reserve representatives mentioned a possible delay in rate cuts because of the still-existing inflation worries. The announcement brought about a sudden liquidation of $640 million, causing the markets to go down.

Bitcoin price fell below $110,000, and Ethereum dipped under $3,900, dragging down other major altcoins. Over $1.2 billion in long positions were wiped out. Approximately $200 billion in market capitalization vanished amid this widespread bearish sentiment. Sei is now trading slightly below $0.20, mirroring the risk-off environment gripping the entire crypto sector after the recent macroeconomic signals.

Robinhood Lists Sei Price Amid Market Slump

The SEI token is publicly available for trading on Robinhood, which means it is now accessible for more than 25 million users around the world. In the past, the introduction of tokens on Robinhood would lead to a massive increase in prices. SEI, however, did not follow that and went down drastically right after its introduction.

However, the listing has turned out to be a great opportunity for Sei Network. Robinhood handles more than $200 billion worth of assets, and this listing of SEI gives it a chance for long-term growth when the market becomes favorable again.

Analysts Predict Potential Rebound to $0.31

According to his recent update on X, the TD Sequential indicator has flashed a buy signal, suggesting a possible upward move. Ali stressed that maintaining the $0.19 support level was crucial, and in case this price holds strong, Sei would be able to bounce back to $0.31.

Initially, Ali remarked that Sei had displayed strength at the support area. He pointed out that an increase in purchasing activity might give the token a push upwards, likely taking it to the range of $0.31 to $0.44. This aligns with the technical chart shared, which indicates a possible recovery ahead following recent declines.  Now traders are waiting to see if Sei will be able to keep the momentum and validate the anticipated rebound.

Can SEI Price Rebound From Key Support?

The SEI price is showing signs of exhaustion after a prolonged downtrend, hovered near the $0.191 level. 

Sei Price Forecast: Will Robinhood Listing Spark a Rally?
Source: SEI/USD 4-hour chart: Tradingview

The Relative Strength Index (RSI) is currently at 35.98, which indicates that the market is bearish but not too far from the oversold area. The blue MACD line has also just crossed the signal line, indicating a weak bullish crossover.

If the SEI price continues holding above $0.160, a rebound toward $0.20 may be likely. On the other hand, a dive beneath $0.160 would clearly indicate a downward move to $0.120. In case the bullish vibe gets even stronger and the level of $0.250 changes to support, SEI might set $0.30 as its next primary goal.

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Frequently Asked Questions (FAQs)

1. What role does the Robinhood listing play for Sei’s future?

The listing gives Sei access to over 25 million users, positioning it for long-term adoption and visibility once market sentiment improves.

2. What indicators suggest a possible rebound?

The TD Sequential indicator has flashed a buy signal, and a mild MACD crossover points toward early bullish momentum.

3. Why did Sei’s price drop after the Robinhood listing?

The decline was mainly due to profit-taking by early investors and negative overall market sentiment caused by macroeconomic uncertainty.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.