Key takeaways
- SEI is up almost 80% within the final seven days after the Sei blockchain was chosen by the Wyoming Steady Token Fee.
- The coin might rally to the $0.40 degree quickly if the bullish momentum persists.
SEI surges above $0.30
SEI, the native coin of the Sei blockchain, was the most effective performers final week, including almost 80% to its worth throughout that interval. The constructive efficiency comes amid a market-wide sell-off sparked by the battle between Iran and Israel.
The coin rallied after Sei was introduced as one of many two blockchains chosen within the final spherical by the Wyoming Steady Token Fee to change into residence to WYST, the primary fiat-backed stablecoin issued by a U.S. state.
SEI rallied to $0.34, its highest degree since January 2025. It has barely declined to the $0.30 degree however might surge in direction of the $0.40 degree if the bullish momentum continues.
SEI might surge in direction of $0.40 quickly
The SEI/USD 4-hour chart is bullish and environment friendly, indicating that patrons are presently in management and will push SEI’s worth larger within the close to time period. At press time, the worth of SEI stands at $0.3045, establishing a robust help degree at $0.2900.
The Relative Power Index (RSI) of 72 reveals that patrons are absolutely in command of the market. The MACD traces are additionally within the bullish zone, indicating that the SEI/UISD pair might rally larger.
If the bearish momentum continues, SEI might take a look at the following resistance ranges at $0.4100. Within the occasion of an prolonged rally, SEI might surge in direction of $0.48 for the primary time since January 2025.
Nonetheless, the SEI/USD pair might flip bearish if there’s a breakdown within the settlement between Israel and Iran. If that occurs, SEI might retest the $0.2900 low and even drop decrease to $0.23.
