Sei (SEI) is currently priced at $0.122276, reflecting a 24-hour decline of 5.23%. The daily trading range has been relatively narrow, with a high of $0.129523 and a low of $0.120557, indicating limited volatility in the short term.

Volume over the past 24 hours stands at approximately $89.49 million, translating to a volume-to-market cap ratio of 11.48%. The significant drop in price has been accompanied by decreasing momentum, as evidenced by the 1-hour RSI of 26, signaling oversold conditions, while the 7-day RSI at 44 indicates that the asset is nearing neutral territory.

Looking at the moving averages, the 8 SMA is slightly above the current price at $0.1222, but the 13, 21, 55, and 144 SMAs show a declining trend, especially the 55 SMA at $0.1323, which is down 7.58%. This alignment suggests a bearish sentiment in the short to medium term as the price struggles to regain momentum above key moving averages.

From a broader perspective, the price has seen significant declines over various time frames, including a 30-day change of -36.85%. With the all-time high at $1.14 reached in March 2024, the current valuation represents a considerable retracement, which may attract potential bargain hunters in the long term.

Given the recent price action, increasing selling pressure, and lower RSI indicators, the market sentiment for SEI appears bearish in the near term. However, the oversold condition indicated by the 1-hour RSI could present a short-term buying opportunity for traders looking to capitalize on potential price corrections.

In conclusion, the current market conditions suggest a HOLD rating for Sei (SEI). While the asset may not be primed for immediate upward movement, the oversold indicators could allow for a potential bounce-back, making it prudent to reassess before taking a decisive trading action.