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HomeSEI Set for 40% Surge? Here’s What You Need to Know

SEI Set for 40% Surge? Here’s What You Need to Know

TL;DR

  • SEI price forms a triangle pattern, signaling breakout potential if $0.345 level is cleared soon.
  • Active addresses up 83% in 3 months, crossing 1 million users amid rising ecosystem demand.
  • Monaco launch adds institutional focus, offering sub-second trading speeds on a decentralized platform.

Price Consolidation Sets the Stage

SEI was trading around $0.32 at press time, after a 5% drop in the past 24 hours. Despite the decline, analysts are watching the price closely. On the 4-hour chart, SEI has been moving within a symmetrical triangle pattern. This formation, marked by lower highs and higher lows, often leads to strong directional moves.

The token is trading just below the $0.33 level, which aligns with the 50% Fibonacci retracement. Analyst Ali Martinez pointed to $0.31 as a possible short-term dip level. 

Notably, this area is near the 0.382 Fibonacci line at $0.317. He added that a move above $0.35 could be the trigger for a breakout toward $0.44, which would represent a 40% gain from current prices.

New Infrastructure in Focus

Sei Labs recently launched Monaco, a new protocol designed for institutional trading. Monaco runs on a Central Limit Order Book model and is built to support high-speed transactions. The Sei Network blog reports that it offers execution under one millisecond and settlement around 400 milliseconds.

Gordon said, “SEI is building the infrastructure for a decentralized Wall Street,” describing Monaco as the first DeFi app directly incubated by Sei Labs. Another analyst, Byzantine General, noted that SEI “held up super well while the rest of the market dipped,” following the announcement.

Market Data Remains Steady

Open interest in SEI futures is holding at stable levels. This suggests that traders remain engaged without adding high levels of leverage. Volume remains consistent after the early June breakout.

SEI price chart
Source: X

Funding rates on Binance are currently at -0.012%. This shows short positioning is present, which may create pressure if the price begins to rise. Liquidations have stayed low, which often indicates a lack of panic in the market.

User Activity on the Rise

Daily activity on the Sei Network has grown steadily. Data from Artemis shows over 851,000 daily active addresses, which is a 22% rise in the past month. Over a three-month span, the number is up by 84%. Some days have crossed one million users.

SEI active addresses
Source: Artemis

Meanwhile, this growth reflects more users interacting with the network. The timing coincides with the release of Monaco, which may have helped boost activity.

The post SEI Set for 40% Surge? Here’s What You Need to Know appeared first on CryptoPotato.

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