- SEI gains 25.2% in a week, despite the overall neutral crypto market.
- Key resistance is at $0.48, long-term target possibly $1.
- Derivatives data shows traders preparing for SEI’s next move.
SEI has sustained its upward trajectory, posting a significant 25.2% gain over the past week. The token has risen 6.32% in the last 24 hours and is currently trading at $0.3326.
Despite a largely bullish broader market, this performance underscores strong buying interest and growing market confidence. Trading activity has intensified, with 24-hour spot volume at $186.81 million, reflecting an 11.9% increase from the previous day.
The project’s market capitalization has reached $1.92 billion, positioning it among the notable gainers of the week. The weekly chart reveals a steady climb following early gains, briefly interrupted midweek by a correction marked by sharp price fluctuations.
The recovery was swift, with momentum returning in the second half of the week as buying pressure persisted. While prices have approached recent highs, signs of consolidation have emerged, hinting at possible short-term stabilization before the next move.
Also Read: SEI Crypto Gains Momentum With Breakout Potential Toward $1.14
Analysts Highlight Key SEI Levels for Further Gains
Talonaru, a cryptocurrency analyst, suggests that SEI’s short-term performance relies on its ability to stay above the daily support level of $0.33. If the token can hold above this region, a push toward $0.48 is possible, he said.
A breakthrough above that point might enable a larger advance, and a possible target range between $0.70 and $1.00. Technically, SEI is currently priced at $0.3326, only slightly above this essential support.
The $0.48 mark also coincides with a long-term downward trendline and therefore serves as a primary breakout level to watch. For the downside, the $0.28–$0.30 area is the closest strong support should bullish momentum begin to relent.
Derivatives Data Shows Traders Positioning for a Move
SEI’s latest actions have been accompanied by significant volatility, mirroring changes in the derivatives market closely. During the previous session, spot trading volume fell 6.99% to $354.51 million, suggesting slightly lower short-term buying activity.
However, open interest, or active contracts, surged 8.95% to $306.41 million, indicating speculators are gearing up for potential significant price movements.
The OI-weighted funding rate is 0.0104%, suggesting a slightly bullish outlook since longs slightly outpace short positions.
With rising technical strength, expanding derivative activity, and bullish momentum in the air, the next couple of days could be crucial for SEI.
If bulls can maintain the price above the $0.33 line and surge through the $0.48 resistance, the market can see a breakout surge towards the widely speculated $1 target.
With rising technical strength, expanding derivatives activity, and bullish momentum in the air, the next couple of days could be crucial for SEI.
Also Read: SEI Price Analysis: Ready to Skyrocket Toward $0.49
