- The SEI outbreak is supported by rising portfolios, transactions and bullish sentiment.
- Despite negative financing, rising open interest and strong momentumhint in the continuation of the trend.
Sei [SEI] Experience a dramatic increase in user activity, where daily active portfolios rise 10.49% to 561,000 and daily transactions jump by 20.13% to 1.47 million.
This figures Confirmed that the adoptive wave of Sei, which has been built since the beginning of the second quarter, has now entered a gear phase and has pushed SEI to $ 0.3039.
These signs indicate at a renewed momentum, but are they sufficient to wear SEI higher?
Will the social momentum of SEI translate into permanent market conduction?
The social dominance of SEI reached 0.59% before he settled at 0.387%, while the positive sentiment rose past 14 on June 27, per santiment data.
This increase in visibility indicates that it attracts wider interest, possibly powered by strong community support and media traction.
Although increased social buzz tends to predict pimples, it can also attract speculative activity.
Source: Santiment
Why still fight traders against the trend?
Despite the traction on the chain and the positive sentiment, the financing percentages remained at the time of the time of -0.032%negative and a clear sign of short heavy positioning.
The persistence of red financing bars shows restraint among derivatives traders to fully support the rally.
However, this contrary positioning could serve as fuel for a potential short squeeze, especially if the price continues to climb and forces liquidations on the bearish side of the trade.
Source: Santiment
Can this reinforce an upward pressure?
At the time of writing, the open interest rose by 7.78% to $ 310.87 million, which reinforced the idea that speculative capital goes back in SEI.
The rise in this metric in addition to the price usually means growing trust. It even shows that both bulls and bears are loaded for the next movement.
Traders must now see if fresh intake will continue or start to dry up while SEI is approaching resistance.
Source: Coinglass
Sei for $ 0.35 is the next big battle
Sei is successfully broken after a few months of Beerarish structure from its falling channel. It floated around $ 0.3039 and came closer to the next key resistance to $ 0.3508.
At the time of the press, RSI read 67.89, so that means it is bullish but not yet overbought. That gives Bulls a breathing space, especially when the volume goes through.
However, it cannot break through $ 0.35 leads to price compression or a retest of the Breakout zone.
Source: TradingView
Ultimately, the outbreak of SEI is supported by a strong increase in user activity, speculative importance and positive sentiment.
However, the ongoing negative financing percentages and key resistance to $ 0.35 introduce short -term risks. If Bull’s momentum retained and breaking past this level, Sei could enter into a new price determination phase.