SEI breaks above $0.2241 resistance with a 9.72% daily gain and surging 24h volume of $430.3M.
Price reclaims descending trendline and key $0.18 support zone for the first time since early June.
Volume/Mcap ratio hits 34.92%, signaling rising turnover as market cap reaches $1.23B.
The SEI token has posted a strong daily performance, climbing 9.72% to trade at $0.2219. This action pushed the price past the major resistance point of $0.2241 in the 24-hour chart, but it has since pulled back. The breakout occurs after a gradual bullish influx since the low of the $0.1918, revealing a new investment interest in the asset.
Notably, volume has surged to $430.3 million—an 88.11% increase—pointing to heightened market participation. Data from Binance and TradingView reflects a break above the descending trendline visible since early June, suggesting an attempt to escape the downtrend.
Price Structure Shows Repeated Resistance Break Attempts
A comparison between June 20 and June 21 charts shows significant developments. On June 20, SEI was trading near $0.2053, where price action remained compressed below a descending resistance trendline. However, by June 21, SEI had broken through that trendline decisively. This marked the third time the token tested this level since mid-May. Each previous attempt faced rejection, but this time, price pushed past with conviction.
The volume profile on the daily chart also reinforces this breakout. Visible range peaks remain clustered below $0.20, with thinner activity seen above. Despite that, SEI managed to reclaim price territory not visited consistently since early June. This structural break adds technical weight to the ongoing recovery seen across the daily time frame.
SEI Reclaims Key Level Amid Volume Surge
SEI’s market capitalization currently stands at $1.23 billion, a 9.72% rise within the same day. The unlocked market cap trails closely at $1.22 billion. SEI’s fully diluted valuation is $2.21 billion, with a circulating supply of 5.55 billion SEI out of a total supply of 10 billion. The volume-to-market cap ratio over the past 24 hours stands at 34.92%, underlying increased turnover relative to market size.
The 88.11% volume jump aligns with a visible trend reversal confirmed by the latest candlestick pattern. Price has now reclaimed levels above the horizontal structure at $0.18, which had served as a support-resistance flip line since March. Each time the price hovered around this level, it either found support or initiated a bounce.
As of June 21, the daily close above the descending resistance may redefine near-term price action. The asset’s reclaim above key chart structures now aligns with the elevated spot volume and price response seen over the last 24 hours.
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