Sei Token Surges 25% in 24 Hours Amidst Heightened Investor Activity

Sei Token Surges 25% in 24 Hours Amidst Heightened Investor Activity

Sei, the layer-1 blockchain optimized for high-frequency cryptocurrency trading, saw its native token experience a significant price surge of over 25% in the last 24 hours.

On September 25th, Sei’s price climbed from an intraday low of $0.366 to a high of $0.471, as tracked across major cryptocurrency exchanges. This marks the token’s highest price level since June 12th. Its market capitalization has now surged to $1.6 billion, positioning Sei as the 59th largest digital asset globally, according to data from CoinGecko.

The price jump was accompanied by a sharp increase in daily trading volume, which soared by 187%, now hovering around $523 million. Furthermore, Coinglass data reveals a 34.4% rise in open interest for SEI, which currently sits at $170.3 million—pointing to heightened investor activity as a driving force behind the ongoing rally.

From a technical perspective, Sei has broken out of a falling wedge pattern on the daily chart—a bullish indicator that suggests the potential for further gains. Additionally, the token has surpassed its upper Bollinger Band at $0.4503, signaling strong upward momentum.

The Directional Movement Index (DMI) also reflects growing bullish sentiment, with the +DI (Directional Indicator) rising and the -DI falling, indicating a reduction in selling pressure. Moreover, the Average Directional Index (ADX) is increasing, highlighting that the previously weak bullish trend is now gaining strength.

Looking ahead, traders should watch the $0.50 level, which may act as a psychological resistance point. Should SEI successfully break through this level with strong volume, the price could target $0.55 or even higher.

However, caution is advised, as the Relative Strength Index (RSI) is currently overbought at 74, suggesting a potential short-term pullback or consolidation. In the event of a correction, the middle Bollinger Band around $0.3224 may serve as a critical support level.

Key Liquidation Levels

Currently, significant liquidation thresholds for SEI are at $0.454 on the downside and $0.475 on the upside, according to Coinglass data. These levels reflect substantial leverage among intraday traders. A drop to $0.454 could trigger the liquidation of nearly $494,000 in long positions, while a rise to $0.475 might result in approximately $3.44 million in short positions being liquidated.

As of now, bullish momentum appears to be in control, with the potential for further short liquidations as the price tests higher resistance levels.