SEI Investments Company: Will it fall or fall up to support?

SEI Investments Company, originally Simulated Environments Inc., is a financial services firm based in Oaks, Pennsylvania. According to the company’s website, it is “a global provider of investment processing, investment management, and investment operations solutions.” SEI offers products and services to institutions, private banks, investment advisers, asset managers, and individual clients. SEI manages, advises, or administers $1 trillion in hedge funds, private equity, mutual funds, and pooled or independently managed assets through its subsidiaries and partnerships in which the business has substantial interests. This comprises $352 billion in assets managed and $683.3 billion in client assets managed.

The Sei project is a layer 1 blockchain that is specialized for trade. Sei presents unique techniques for transaction ordering, block processing, and parallelization that are tailored to exchanges.  The Sei project also has a highly efficient order placement and matching engine incorporated into the chain.

Previous Records of The Data

Today’s Sei price is $ 0.159747, with a 24-hour trading volume of $ 700.57M, a market capitalization of $ 287.55M, and a market dominance of 0.03%. In the previous 24 hours, the SEI price fell -13.10%.

Sei’s highest price was recorded on Aug 15, 2023, when it traded at its all-time high of $ 0.537095, and its lowest price was recorded on n/a when it traded at its all-time low of $ 0.00. The lowest price since the all-time high was $ 0.146003 (cycle low). Since the previous cycle low, the highest SEI price was $ 0.170300 (cycle high).

SEI coin price is now following the broader crypto market trend of heavy selling pressure. The crypto market fell shortly after the US Federal Reserve hinted at further interest rate rises to combat inflation. This caused a panic in the market and a large-scale sell-off. The global crypto market cap has fallen below $1.10 trillion, and it now runs the prospect of sliding below $1.0 trillion.

What does the System speak about the SEIC?

The coin presently has support of around $0.15, and buyers are fighting hard to keep it there. If SEI falls below this level, the probability of the SEI coin dropping below $0.10 rises. SEI is technically oversold. With growing selling pressure, the SEI coin’s Relative Strength Index decreased, indicating greater seller concentration. At the time of writing, the RSI is 31.80. The buyers outweigh the vendors.

On the Daily Chart:

The SEI Moving Averages Convergence Divergence (MACD) indicator is 0.08, indicating that Sei Investments Company should be purchased.

The Sei 20-day exponential moving average is 61.86, while the share price of Sei Investments Company (SEIC) is $60.91, indicating a sale.

Sei’s 50-day exponential moving average is 60.95, while the share price of Sei Investments Company (SEIC) is $60.91, indicating a sale.

On the Weekly Chart:

Sei Investments Company’s Moving average convergence Divergence (MACD) indicator is 1.15, indicating a sale.

The Sei 20-day exponential moving average is 59.83, and the share price of Sei Investments Company (SEIC) is $60.91, making it a Buy.

Sei’s 50-day exponential moving average is 58.46, and the share price of Sei Investments Company (SEIC) is $60.91, making it a Buy.

Indicators:

The Sei Relative Strength Index (RSI) is 55.12, indicating that the market is in a neutral state.

The Sei Trend Strength Indicator (ADX) is 17.20, signaling a Buy.

The Sei Commodity Channel Index (CCI) is 78.30, indicating that the market is neutral.

The Sei Price Rate of Change (ROC) is 5.18, indicating a Buy.

The SEI coin trade tip is to sell. The MACD indicator confirms this. The MACD line is currently below the signal line on the MACD chart. SEI coin trade volume has plummeted. This is a very bearish signal. Overall, technical indications point to a more pessimistic market trend. The market mood is downbeat.

Conclusion

SEIC stock’s (NASDAQ: SEIC) overall momentum is quite negative. The net SEI coin price has fallen below its critical short-term moving averages on the hourly chart above, confirming a bearish trend.

Technical levels

• Resistance levels: $64

• Support levels: $54

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.