The cryptocurrency SEI is experiencing explosive growth, and investors are watching closely to see whether it can break the key $0.30 resistance level. In the past 24 hours, SEI has surged over 40%, and is up 68% over the last week — outperforming most comparable altcoins on the market.
This impressive rally followed the announcement that the Sei Network was selected by Wyoming's stable token commission (WYST) as a candidate blockchain for their initiative. This news sparked renewed investor interest and a strong wave of buying pressure.
🔹 Technical Outlook: Is a Break Above $0.30 Coming?
The SEI chart reveals a strong impulsive uptrend accompanied by high trading volume. If the token manages to close a daily candle above $0.275, it could be a clear bullish signal that a breakout above $0.30 is imminent.
📊 What the indicators say:
The RSI shows strong bullish momentum, with no current signs of exhaustion.
OBV has broken past its March high — a clear indication of growing buying interest.
Futures open interest has surged 71% in the last 24 hours, suggesting a spike in speculative activity.
Source: Coinalyze
🔹 Watch Out for Volatility: Bear Traps and Liquidations Ahead
Despite the bullish setup, funding rates remain negative on futures markets, indicating that short positions still dominate. This setup could lead to a short squeeze, where bearish traders are forced to close their positions, pushing the price higher.
💥 Liquidation data shows:
A significant liquidity cluster was recently cleared around $0.29.
A potential pullback to $0.27–$0.26 could attract more buyers and trigger another move upward.
Source: Coinglass
✅ What This Means for Traders
Now may not be the best time for FOMO-driven entries or aggressive shorting. Instead, long-position holders could consider taking partial profits. The next big move could follow a clear break above $0.30, or a drop below $0.26, which might signal a deeper correction.
SEI is at a critical turning point — whether bulls break out or bears regain control, one thing is certain: volatility will be the key driver.
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