Sei (SEI) is currently priced at $0.108887, reflecting a 24-hour decline of 1.96%. The daily trading range has been relatively tight, with a high of $0.111997 and a low of $0.105915, indicating decreased volatility in the short term.

Trading volume stands at approximately 37.7 million, representing 5.34% of the market cap, which suggests a moderate level of trading activity. The hourly moving averages reveal a bearish trend, as the 8 SMA ($0.1084) is slightly above the current price while longer-term SMAs are indicating a decline, with the 55 SMA at $0.1111 showing a drop of 1.97%.

The Relative Strength Index (RSI) for the hour is at 44, indicating that SEI is nearing oversold conditions, while the 7-day RSI at 45 supports this perspective. However, the 7-day and 14-day price changes of -13.03% and -17.09% respectively indicate a consistent downward trend over the past weeks.

Given that SEI is trading significantly below its all-time high of $1.14, achieved on March 16, 2024, the potential for recovery is present, but current momentum remains weak. The prolonged downtrends over the last 30 days, with a price drop of 18.83%, suggest that the market is not yet ready for a reversal.

In summary, while there are signs of a potential bottoming out, the current technical indicators and recent price movements suggest caution. Given the bearish momentum and the absence of strong bullish signals, a Hold rating is appropriate at this time, allowing for a reassessment as the market evolves.