SEI is back on traders’ radar after showing real strength both on the charts and in the futures market. Over the past few weeks, the SEI price broke through a key resistance zone and flipped it into support, always a good sign. 

At the same time, open interest in SEI futures has exploded. Analysts like Crypto Yoddha and Lennaert Snyder believe this combo of strong price structure and rising trader activity could be setting SEI up for a bigger move if momentum sticks around.

According to data shared by top analyst Lennaert Snyder via Messari, SEI’s open interest jumped more than 210% in just three weeks. It’s now sitting around $162.96 million, way up from under $50 million back in mid-June. That kind of spike usually means traders are piling in, either expecting a breakout or preparing for a big swing.

$SEI open-interest pumped +210% to $162,960,000 in 3 weeks. @SeiNetwork keeps gaining momentum. pic.twitter.com/zUEgUyDPqw

— Lennaert Snyder (@LennaertSnyder) July 9, 2025

Before this surge, open interest was pretty quiet, ranging between $40 million and $90 million for weeks. That long stretch of calm made the recent pump even more noticeable. While high open interest can reflect both longs and shorts, the fact that it’s staying elevated suggests the market is waiting for a clear move, and wants in when it happens.

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SEI Price Retests 200-Day Moving Average

Alongside derivatives activity, SEI spot chart has broken through a descending pattern and completed a retest of the 200-day moving average. The daily chart shows a successful breakout from a falling wedge, followed by a pullback to a prior resistance level around $0.22–$0.23.

Crypto Yoddha commented that SEI price has “flipped the resistance as support” and has also “retested the breakout pattern + 200MA.” The confluence of these levels strengthens the current structure. SEI is also forming higher lows since its May bottom, supported by an ascending trendline.

Image Source: X/CrptoYoddha

With price holding above the 200 DMA and open interest remaining strong, traders are now watching for confirmation above $0.27–$0.28. The next major resistance zone sits near $0.32–$0.35, which aligns with previous supply from earlier in the year.

This combination of technical structure and trading interest suggests SEI price is in a consolidation phase within a broader trend shift. A confirmed move above local resistance could trigger renewed upside in both price and participation.

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The post SEI Price Breaks Out and Open Interest Follows – Is a Rally on the Table? appeared first on CaptainAltcoin.