SEI has surged dramatically, gaining 40.6% in 24 hours and 68% over the past week, outperforming most altcoins in its market cap tier ($1.5 billion). The bullish momentum follows news that the Sei Network was shortlisted by Wyoming’s Stable Token Commission for WYST implementation. Traders now eye a potential breakout above the **$0.3 resistance**, fueled by futures market signals of a possible short squeeze.
Key Factors Driving SEI’s Rally
Technical Breakout Signals:
- A daily close above $0.275 (range high) could confirm bullish momentum.
- On-chain Volume (OBV) surpassed March highs, indicating strong buying pressure.
- RSI shows intense bullish momentum without divergence warnings.
Futures Market Dynamics:
- 71% spike in Open Interest reflects speculative demand.
- Negative funding rates suggest short dominance, raising odds of a squeeze.
Critical Levels to Watch:
- Liquidity pockets at $0.29 (recently swept) and support zones at $0.26–$0.27.
- A dip to these levels may attract buyers before a potential push to $0.3+.
Trader Caution Advised
While the setup favors longs, volatility risks remain:
- Avoid FOMO: Profit-taking near $0.3 may be prudent.
- Monitor triggers: A close below $0.26 or above $0.3 could dictate the next trend.
👉 Explore real-time SEI price charts for live data.
FAQs
Q: What’s driving SEI’s sudden price surge?
A: News of Wyoming’s blockchain candidacy and technical breakout signals fueled the rally.
Q: Could SEI hit $0.4 soon?
A: If bullish volume sustains and $0.3 breaks, $0.4 becomes plausible. Watch futures data for clues.
Q: Why are funding rates negative despite the rally?
A: Shorts dominate futures markets, creating conditions for a squeeze if prices rise further.
Q: Is SEI a good buy now?
A: Wait for confirmation above $0.275 or a dip to $0.26–$0.27 for lower-risk entries.
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Disclaimer: This analysis represents the author’s opinion and not financial advice.
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