Sei shows renewed force after a breakout to attach a reverse head and shoulder pattern.
According to data from crypto.news, Sei (SEI) rose more than 26% on 11 July to reach a high point of six months of $ 0.33 before setting up at $ 0.32. Token continues to rise about 113% of its lows last month.
Market capitalization is now $ 1.78 billion and ranks it as the 70th largest digital active, while the daily trade volume has increased by more than 200%, which reflects a strong increase in market participation.
The price of SEI rose after the team announced That the network will soon support the Native USDC, published by Circle, the issuer of the most regulated and institutionally adopted Stablecoin.
The announcement also confirmed the upcoming integration of Circle’s Cross-Chain Transfer Protocol (CCTP). This allows users to move USDC seamlessly between SEI and other large chains such as Ethereum, Solana and Avalanche, without trusting bridges from third parties or packed assets.
These integrations significantly improve the value proposition of SEI by making fast, secure and cost -efficient capital flows between ecosystems possible. Native USDC in SEI can feed more efficient worldwide payments, deepen liquidity into defi-protocols and lay the foundation for financial applications of institutional quality.
The significant increase in the trader and the continuing buying pressure helped to break Sei from a well-defined reversed head and shoulder pattern on the daily map. The neckline, positioned between $ 0.26 and $ 0.27, was decisively broken and a successful retest has confirmed the validity of the outbreak.
According to pseudo-anonymous analysts Crypto Feras, the breakout projects an upward target of approximately $ 0.499, based on a measured movement of the base of the pattern near $ 0.15. From the moment of printing, this goal remains nearly 55% compared to the current price level.
Bullish sentiment is also reflected by other market analysts, where some projects that Sei could reach $ 1.50 by the end of the year, should macro and ecosystem developments remain favorable.
Multiple Bullish catalysts in the game
Momentum indicators at least seem to promote a continuation of the rally in the short term. The MACD line has been crossed above the signal line and RSI has continued to trend trend. This means that buyers currently dictate in the short term price promotion.
As an addition to this, derivative data further supports these prospects. According to Coinglass, the open interest in Sei Futures has risen by more than 210% in the last three weeks, risen from less than $ 50 million in mid-June to around $ 318 million from the moment of press. Traders are probably positioning themselves awaiting an outbreak.
In the meantime, facts Van Defillama shows the total value that is locked in the Defi protocols of SEI, has reached a new highest peak of $ 1.4 billion. The scale of capital influx indicates continuing user activity in decentralized applications that go beyond speculative importance in the SEI token alone.
As more liquidity anchores in the network, Sei benefits from deeper markets, greater price stability and improved conditions for developers who build Defi infrastructure.
Further support for SEI’s growth bobalization can result from institutional positioning. Circle’s IPO Prospectus, recently submitted to American supervisors, confirms A company of 6.25 million Sei -Tokens. This level of exposure suggests that Circle Sei regards as a meaningful component in its broader blockchain strategy.
Moreover, Sei is currently one of the eleven blockchain networks that are assessed by the Wyoming Stable Token Commission for the coming Wyst Stablecoin project. A final decision is expected on July 17.
If SEI is eligible for the selection, this would set another big step towards the regulations and could further strengthen the credibility of the network as a ready-made blockchain infrastructure in the US
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
