The SEI chart has turned bullish, with the price aiming to retest the $0.39 level. Meanwhile, the Sei network recently reached a significant milestone, surpassing 1 million daily active wallets and achieving record-high daily transactions.
After dropping to $0.16 in mid-June, SEI rallied nearly 150% to peak at $0.39 in mid-July. Following this peak, the price overcorrected to around $0.26, breaking the ascending trendline and falling below the 20-day EMA.
However, sentiment has shifted positively since that correction. SEI has reclaimed the 20-day EMA and is now surging upward toward the previously broken ascending trendline, which currently acts as resistance.
If momentum continues and SEI breaks above the trendline resistance near $0.35, it could retest the $0.39 high. Successfully surpassing this level may pave the way for a new higher high, potentially near the 50% Fibonacci retracement level around $0.43. From the current price of $0.32, this represents a potential gain of 35%.
What’s driving SEI price?
SEI’s bullish technical outlook is strengthening alongside robust fundamental growth. The Sei network recently exceeded 1 million daily active wallets and reached an all-time high in daily transactions. Additionally, MetaMask’s integration of SEI as a default network has accelerated adoption, establishing Sei as the top EVM chain by weekly active wallets—surpassing competitors like Base and opBNB.
Institutional interest in SEI is also increasing, highlighted by Elixir’s launch of fastUSD—a stablecoin backed by assets from major firms like BlackRock, Hamilton Lane, and Apollo—on the Sei network. Meanwhile, Stargate Finance has transferred over $500 million into SEI, signaling growing confidence and capital inflow into its DeFi ecosystem.
With strong fundamentals building momentum for a significant rally this cycle, analyst Ali Martinez predicts SEI could surge to $4, noting that its price action closely mirrors Sui’s path before it climbed to $5.
