Key Insights
- Sei’s price now holds near $0.3 while bullish indicators show that a comeback could be in play.
- Exchange outflows have continued for the past 8 weeks and show long-term buying pressure.
- Institutional products like Monaco and ETF filings boost Sei’s crypto adoption.
Sei price has held around $0.3, even as many crypto assets struggled. Sei crypto has gained over 45% in price over the last three months, and about 4% over the last week.
This relative strength is a classic bullish signal for the asset. This is mainly because on-chain data shows that accumulation has only begun.
Traders question whether the Sei price can rise and clear resistance at $0.35. If this happens, it could unlock higher targets for the asset. On the other hand, a rejection may extend the consolidation phase.
Sei Price Momentum Builds as Exchange Outflows Hit $10M+
Sei Crypto has now recorded eight straight weeks of exchange outflows. The last week alone has seen $10.43 million worth of tokens leave exchanges. This was the second-largest weekly total since July’s highs.
Outflows usually show strong buying interest because tokens are moved off exchanges into long-term storage. This trend indicates that investors are building conviction in the growth of the Sei price.
Sei Labs has also expanded its reach with the launch of Monaco. Monaco, for context, is a new protocol designed for institutional trading.
While this is happening, the CBOE recently filed for an S&P-based ETF. The network’s rising number of active addresses and a TVL near $626 million mean that something big is incoming for Sei.
Sei Price and the Bullish EMA Crossover
According to the daily chart, the Sei crypto is flashing bullish. The 100-day Exponential Moving Average is about to cross above the 200-day EMA.
This crossover has historically been viewed as one of the most reliable indicators of an incoming uptrend. That could be the start of something huge.
Institutional and long-term traders use golden crosses between the 100-day/200-day EMAs to confirm the market’s direction. If the setup is complete, the Sei price could attract more buyers quickly.
However, this bullish pattern is a major source of risk for short sellers. Over the last week, traders built $37.34 million in short positions on Bitget. This is compared to the smaller $26.15 million in longs.
In further detail, many of these are also concentrated between $0.32 and $0.36. If the Sei crypto rises very quickly, the bears could face forced liquidations soon.
Resistance at $0.35 is the Deciding Factor
Sei is now trading above a major support zone around $0.31. This area has attracted buyers strongly in the past, and has held the asset up over the last week.
This means the Sei price must break above $0.35 for the rally to continue. It is worth mentioning that the level has rejected the token several times. However, if bulls flip it into support, the next target is $0.37.
Some analysts even predict a clear breakout could open the doors towards $0.44. This would be a 40 per cent move from current levels.
If Sei crypto breaks past $0.35, the resulting rush of bearish liquidations could quickly push the token higher. On the other hand, a failure to clear this level could give the bears a temporary edge.
What to Watch Next for Sei Price
Sei’s price outlook favours the upside and is backed by several factors. Over the near term, traders should watch what happens around the $0.35 zone. A break of this resistance could set the stage for $0.37 or even $0.44.
According to renowned market analyst Ali Martinez, SEI could be looking at a possible price rally towards new highs. However, if Sei fails to move higher, the token may retest the $0.31 support before bulls attempt another rally.
