Summary
The 12.26% increase in SEI over 24 hours reflects a positive technical momentum, strong growth of its ecosystem, and speculation supported by derivative products, despite a token unlock of $22 million.
Breakthrough of a key resistance (between $0.35 and $0.41) with favorable technical indicators
Growth of the DeFi ecosystem: the total value locked (TVL) has increased by 230% since the beginning of the year, reaching $661 million, with decentralized exchange (DEX) volumes around $65 million per day
Anticipation of token unlock: the unlocking of 20 million SEI on July 15 did not slow down the momentum
Detailed Analysis
1. Main Catalyst
On July 15, SEI surpassed its resistance level at $0.35, marking a weekly increase of 42%. According to Crypto.news, this movement triggered automatic buys and the liquidation of short positions amounting to $8.7 million. This increase was accompanied by:
Formation of a golden cross: the 50-day moving average ($0.268) is approaching the 200-day moving average ($0.249)
Relative Strength Index (RSI) at 74 on the daily chart – a high level but not yet in overbought territory
Bullish divergence of the MACD: the histogram turned positive on July 13
2. Supporting Factors
Institutional validation: SEI received a score of 30/30 in the Wyoming blockchain assessment (CryptoMasterCom)
Speculation around an ETF: Canary Capital is preparing a filing for an SEI ETF
Stablecoin dynamics: Circle's IPO revealed a holding of 6.25 million SEI
Conclusion
The progression of SEI combines solid technical momentum with fundamental validation. However, an RSI of 70.4 suggests a possible short-term consolidation phase. Will SEI's DeFi indicators be able to maintain this upward momentum after the token unlock?
