🌎 Sei Token Soars Over 25% Amid Surge in Trading Volume

Sei’s Native Token Soars Over 25% in 24 Hours

Sei, the layer-1 blockchain designed for high-frequency crypto trading, has seen its native token’s price surge by more than 25% in the last 24 hours. On September 25, Sei’s token rose from an intraday low of $0.366 to a high of $0.471, marking its highest level since June 12. This price increase has boosted its market capitalization to $1.6 billion, positioning it as the 59th largest digital asset globally.

The price hike coincided with a 187% rise in daily trading volume, now around $523 million. Data indicates that Sei’s daily open interest has increased by 34.4% to $170.3 million, suggesting heightened investor activity is fueling the ongoing rally.

Technical Analysis

On the 1-day chart, Sei has broken out of a falling wedge pattern, a technical setup that typically signals further upside potential. The token has also broken the upper Bollinger Band at $0.4503, indicating strong upward momentum.

The Directional Movement Index (DMI) shows increasing bullish momentum, with a rising +DI and a falling -DI, indicating reduced selling pressure. Meanwhile, the Average Directional Index (ADX) is climbing, suggesting that the previously weak bullish trend is gaining strength.

Key Levels to Watch

Traders should monitor the $0.50 mark, which could serve as the next psychological resistance. A successful breach of this level, combined with strong volume, might push the price toward $0.55 or higher. However, the overbought Relative Strength Index (RSI) at 74 signals the possibility of a near-term correction or consolidation. In case of a reversal, the middle Bollinger Band around $0.3224 may act as a key support level.

Liquidation Levels

Currently, the key liquidation thresholds for Sei are around $0.454 on the downside and $0.475 on the upside. Significant leverage among intraday traders is present at these levels. If Sei drops to $0.454, nearly $494.47K in long positions could be liquidated. Conversely, a rise to $0.475 could lead to the liquidation of approximately $3.44 million in short positions.