Key takeaways
What Fueled SEI’s 19% Rise?
Whale accumulation near $0.30 and Binance’s role as a validator has increased buying pressure and confidence in the chain.
What measures confirm the upward momentum?
The RSI reached 69.19 with a MACD crossover, signaling strength towards resistance between $0.21 and $0.23.
Sei (SEI) is up around 19%, up against the broader crypto market, mainly driven by altcoins. The altcoin was among the top 10 performers over the past 24 hours.
This increase occurred as large whale orders and buyer volume increased. In addition to this, Binance has become a validator of the SEI blockchain, expanding the reach and credibility of its network.
Analyze future price targets for SEI
SEI fell below a sideways range earlier and tested $0.15 as a potential bottom before rebounding strongly. The range had held since mid-October and ended when prices escaped consolidation in early November.
The RSI divergence indicator increased to 69.19, close to the overbought zone, while the MACD confirmed buyers’ momentum with a positive crossover. These signals suggest a possible short-term pause or correction after the strong rally.
Source: TradingView
If the market maintains its current pace, SEI could retest the resistance at $0.21.
A break above this level could push it towards $0.23 – a structure-determining point that could reverse the bullish sentiment. For now, the overall structure remained bearish until $0.23 is reclaimed.
Orders for large whales increase
Orders for large whales increased in the spot and futures markets. In the derivatives sector, large positions appeared just after the SEI fell below $0.30, signaling confidence among institutional traders.
Source: CryptoQuant
Spot accumulation also gained ground near $0.40, where each large order showed an average size change of around 0.11%.
Retail participation, meanwhile, remained moderate. As is often the case, whales led the first rebound since the October 10 market crash, while small traders stayed on the sidelines.
Bulls dominate in volume
Additionally, CVD Spot and Futures Taker dominated all buyers. This indicates that the volume of the rises has exceeded that of the declines.
Source: CryptoQuant
However, the measurement has been like this since the end of September. This reflected a divergence as buyer volume increased while prices fell. Divergence usually triggers price reversals.
Finally, SEI has partnered with Binance to improve blockchain security. Binance announced that it will serve as a validator for SEI as part of its GIGA Speed upgrade, adding additional institutional support to the ecosystem.
