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 may 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 probably the greatest 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 turn into house 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 may surge in the direction of the $0.40 degree if the bullish momentum continues.
SEI may surge in the direction of $0.40 quickly
The SEI/USD 4-hour chart is bullish and environment friendly, indicating that patrons are at the moment in management and will push SEI’s price larger within the close to time period. At press time, the price of SEI stands at $0.3045, establishing a powerful assist degree at $0.2900.
The Relative Energy Index (RSI) of 72 exhibits that patrons are absolutely answerable for the market. The MACD traces are additionally within the bullish zone, indicating that the SEI/UISD pair may rally larger.
If the bearish momentum continues, SEI may check the subsequent resistance ranges at $0.4100. Within the occasion of an prolonged rally, SEI may surge in the direction of $0.48 for the primary time since January 2025.
Nevertheless, the SEI/USD pair may flip bearish if there’s a breakdown within the settlement between Israel and Iran. If that occurs, SEI may retest the $0.2900 low and even drop decrease to $0.23.
