SEI posted a sharp 11.63% gain on May 27, touching $0.07155 and outperforming a weak broader market, after Binance announced it will suspend legacy SEI deposits and withdrawals from June 1. The exchange’s deadline is tied to the Sei network’s full migration to EVM compatibility, a long-awaited upgrade that is now driving a wave of speculative positioning.
The daily chart showed SEI breaking cleanly above the 20 EMA ($0.0636) and the 50 EMA ($0.0629), with spot netflow turning positive at $363,890. Futures activity surged: volume jumped 135.65% to $201.63 million and open interest climbed 12.58%, confirming fresh longs entering the move. The next technical hurdle is the 0.382 Fibonacci retracement level near the 100 EMA around $0.070.
Context remains bearish. SEI is still 94% below its all-time high of $1.14, and monthly token unlocks have kept supply pressure elevated throughout 2026. Analysts at Coinpedia noted the token “trends bearish, nearing key $0.02 demand, but a rebound could push it back toward $0.10–$0.20 in 2026.” Bitcoin dominance above 60% continues to compress capital for smaller layer-1 protocols, making sustained upside challenging without a fundamental catalyst.
Sei’s development team has focused on dependency updates and validator stability, with the SeiDB storage layer and new JavaScript tools yet to translate into strong dApp adoption. Traders are watching whether the current rally can hold above $0.07 and target $0.10, or whether it will retrace as a short squeeze in a thinly traded market.
