Key takeaways
- SEI is up 10%, outperforming the broader cryptocurrency market.
- The coin may lengthen its rally in direction of the $0.092 each day swing excessive within the close to time period.
The cryptocurrency market opened the brand new weekly candle blended as some cash rallied whereas others underperformed.
SEI, the native coin of the Sei blockchain, is likely one of the finest performers among the many high 100 cryptocurrencies by market cap.
The coin is up by 10% within the final 24 hours and will lengthen its rally within the close to time period. Technical indicators counsel that SEI may surge previous a key resistance degree because the broader market stays robust.
SEI rallies as Sei Labs completes EVM Transition
The first catalyst behind SEI’s newest rally is the completion of its unified EVM structure.
The crew introduced over the weekend that it has accomplished its transition to a unified, EVM-only structure.
Which means exchanges and custodians supporting the SEI token must migrate buyer holdings earlier than help for Cosmos and IBC-related performance is deprecated.
The crew’s core message: Sei EVM is just not a separate chain. “It’s the same chain with a second way to interact with it,” Sei Labs stated within the announcement. Any venue that treats “Sei” and “Sei EVM” as two distinct integrations must consolidate them into one.
The push closes out SIP-3, the Might 2025 governance vote that accepted Sei’s pivot to a totally EVM-only structure.
The transition has rolled out in phases by 2026, with EVM staking added in January, inbound IBC transfers disabled in February, and the native oracle changed by Chainlink, Pyth, and API3 in March.
SEI bulls goal the $0.080 resistance degree
The SEI/USD 4H chart is bearish and inefficient because of Sei’s newest rally. The momentum indicators counsel that the bulls stay in charge of the market.
The RSI of 70 implies that SEI is approaching the overbought area, which may sign incoming promoting strain. The MACD traces are additionally inside the constructive territory, including additional confluence to the bullish narrative.
If the bullish development persists, SEI may rally previous the $0.0800 degree within the close to time period. The swing excessive on the each day chart at $0.09248 could possibly be SEI’s goal within the coming days and weeks.
Nonetheless, if the sellers regain management, SEI may drop to the help degree at $0.07021. Shedding this degree may see the bears push the worth decrease in direction of the $0.06490 pyschological degree.
