Sei Network has reached a major milestone after surpassing two million daily active wallets for the first time, marking a sharp rise in user adoption and on-chain engagement.
The increase reflects growing demand for high-speed blockchain infrastructure as more users shift toward networks capable of handling large-scale activity without congestion, delays, or high transaction costs.
The surge in activity on Sei is being driven by multiple sectors, including gaming, payments, decentralized finance, and autonomous on-chain agents.
Developers say the network’s high throughput and low-latency design allow applications to run faster and more efficiently, helping Sei gain momentum as competition intensifies among blockchains racing to support the next wave of adoption.
Also Read: SEI Eyes $1.00 After Ledger Enterprise Boosts Institutional Access
SEI Technical Outlook Points to Downward Pressure
Despite this major achievement, SEI remains stuck in a bear market that is refusing to come to an end as it continues to trade below its 200-period EMA at $0.07265.
According to TradingView, the latest candle action is stuck at $0.06301, struggling to break above the 20-EMA resistance at $0.06334. The fact that all the major EMAs are aligned is a clear indication that sellers remain firmly in control of market direction.
Source: TradingView
The price fluctuations are becoming less volatile as the price fluctuates between the middle and lower Bollinger Bands. There is good support at the lower band of $0.06092, with the price finding a secondary support at the 50-EMA of $0.06473.
If the price falls through the range, it may continue to fall further; however, if it touches the upper band of $0.06593, it would be a positive sign.
Momentum Indicators Point to Cautious Outlook
The RSI currently stands at 46.64 and remains below the 50 threshold. Although still in bearish territory, the purple line has managed to climb over the yellow signal line, currently standing at 43.97.
This indicates a small increase in purchasing power as the asset tries to regain balance after a run of price drops.
Source: TradingView
The MACD has just produced a bullish crossover as the blue line has moved up and above the orange line. The histogram is also green in color and stands at 0.00010.
However, the lines are still below the zero line, indicating that the bigger trend is still fighting its way through the resistance before it can fully reverse.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: SEI Tests Key Channel Support With $0.157 Target in Focus
