SEI price drops as long liquidations rise and traders exit, signaling bearish trend.

SEI's price has fallen below key support at $0.049 amid strong selling pressure and rising long liquidations totaling over $550k in 24 hours. Open Interest has dropped 7% to $29 million, indicating traders are leaving the market rather than buying the dip. This combination of falling participation and increased forced selling suggests bearish momentum will likely continue unless demand picks up. Traders are cautious, watching for signs that selling will stop before considering a rebound near $0.06.