SEI surged to $0.062, rising more than 10% in 24 hours. As Bitcoin (BTC) retested the $78,000 level and risk appetite revived, SEI is also attempting to break through a major resistance line. With expectations for an upgrade coinciding with improvements in on-chain indicators, the possibility of a further rebound is also being discussed.
On the 22nd (local time), the SEI token rose to $0.062 during trading, increasing 10.5% from the previous day. At the same time, Bitcoin (BTC) reconfirmed the $78,000 level, and major cryptocurrencies including Ethereum (ETH) also showed strength. As global stock markets rose on expectations of easing tensions in the Middle East, the virtual asset market appears to have followed the trend of risk appetite.
The overall 'greed' sentiment in the market also contributed to the momentum. The cryptocurrency 'Fear and Greed Index' stood at 63, entering a zone where investors can engage in aggressive buying. The total market capitalization also increased by approximately 3% to $2.63 trillion.
Expectations for SEI go beyond a simple price rebound. The Total Value Locked (TVL) in DeFi has surpassed $146 million, and the stablecoin market capitalization has also increased to around $181 million. This signifies rising liquidity and is interpreted as a signal of the recovery of network utilization.
In addition, 'Giga,' the next-generation upgrade for the Say Network, is also attracting attention. Say Labs recently released system version 6.4, accelerating the transition to Ethereum Virtual Machine (EVM) compatibility. It is assessed that reducing dependence on Cosmos (ATOM) and simplifying the structure in the future could further improve scalability and interoperability.
[Energy Analysis] China’s Choices Changed by the Iran War… US Ethane Imports Hit All-Time High
View full Alpha Report →The sentiment on the charts is also not bad. The SEI has surpassed $0.060 for the first time since late March, and expectations for a trend reversal could increase if it breaks through the $0.063–$0.065 range. The Relative Strength Index (RSI) has moved out of the oversold zone and risen to the 60 level, and the MACD has also shifted to a bullish signal. However, if it falls below $0.055, downward pressure could increase again.
Although SEI has not yet completely escaped its long downtrend, market attention is focusing on it as Bitcoin (BTC) rebounds and expectations for a network upgrade overlap. If the 'Giga' upgrade actually stimulates trading volume and user influx, the possibility of a retest of $0.10 is expected to gradually become a realistic scenario.
💡 Frequently Asked Questions (FAQ)
Q. What is the key reason for the rise in SEI tokens?
Q. Why is the Giga upgrade important?
Q. What price levels should we watch out for going forward?
<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>
