SEI price surged 50% this week, reaching its highest level in over four months, and is now approaching a critical technical breakout. Investors are closely watching for a potential Golden Cross, which could end a five-month Death Cross that has kept the altcoin under pressure since January 2025.
SEI Price Rally Driven by Surge in Network Activity
At the time of writing, SEI trades at $0.29, just below the key psychological resistance of $0.30. The rally appears to be fueled by growing investor interest in alternative layer-1 chains, as well as a spike in on-chain activity.
- Daily transactions on the SEI blockchain recently hit 1.6 million, more than tripling in the past three months.
- This spike in usage indicates increasing confidence in SEI’s ecosystem and real demand for its native token.
The momentum is building just as the 50-day EMA begins to slope upward, raising hopes for a Golden Cross—a bullish crossover where the 50-day EMA moves above the 200-day EMA.
Golden Cross in Sight as SEI Targets $0.30 Breakout
SEI has been in a Death Cross pattern since January, a bearish signal where the 200-day EMA overshadows the 50-day EMA. The current price rally, however, is putting this long-term downtrend under threat.
If SEI breaks above $0.30, it could flip this level into support and push toward the next key resistance at $0.35. A successful breakout would likely confirm a trend reversal, attracting further bullish momentum and potentially establishing a new uptrend.
Profit-Taking Could Trigger Pullback to $0.24 Support
While the indicators are promising, profit-taking could spark short-term volatility. If SEI fails to hold $0.27 as support, it may slide back to $0.24, which has previously served as a consolidation level.
Key support/resistance levels:
- Resistance: $0.30, then $0.35
- Support: $0.27, followed by $0.24
Conclusion: SEI Approaches Key Turning Point
SEI’s strong rally, combined with rising transaction activity and bullish technical signals, suggests a potential trend reversal is underway. A confirmed breakout above $0.30 could mark the end of the Death Cross and usher in a Golden Cross, attracting both retail and institutional attention.
Investors should monitor SEI closely as it approaches this critical price threshold.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.