Sei (SEI) is trading near $0.30 after a 22% pullback from its yearly high, with a 9% weekly decline positioning it just above key support at $0.2635. Technical analysis reveals a strongly bullish structure: SEI maintains higher highs/lows within an ascending channel since April's $0.1250 low, recently bouncing off the channel's lower boundary. Crucially, it reclaimed the 50-day and 100-day EMAs while surpassing the 23.6% Fibonacci level, suggesting 30% upside to $0.3890 near-term.
Ecosystem metrics underscore fundamental strength: Sei dominates blockchain gaming with 12.7M monthly active wallets and 51.2M transactions, while stablecoin supply surged to $268M (near its $297M ATH). Total Value Locked (TVL) hit $675M, led by dApps like Yei Finance and Takara Lend. Network activity spiked 91% monthly with fees up 25%.
Prominent analyst Ali Martinez highlights SEI's striking similarity to SUI's pre-rally structure, predicting a 'monster bull rally to $4' (1,300% upside). Supporting this, SEI recently surpassed SUI in daily transactions. Despite mixed signals—RSI at 46 shows weak momentum and futures markets indicate overheating near $0.30—daily volume remains robust at $209M, suggesting accumulation at support levels.