Sei price changes recently as new developments come in while the network rolls out new ecosystem updates.
The Sei Network said the first pieces of its Giga Storage upgrade are now live on mainnet, alongside 0.1-cent transaction fees and MetaMask-sponsored gas for qualifying transactions. At press time, Sei is trading at $0.04499, with a 1.35% increase over the past 24 hours.
The network also highlighted other updates, including FlatKV benchmarks and Sei’s participation in Ondo’s USDY ecosystem.
Also Read: SEI Price Tests 200-Day SMA as Sei Giga Upgrade Nears Key Milestones
What is Behind Sei Price Now?
The Sei Network described the recent developments in an X post, highlighting “Giga’s storage upgrade on mainnet, 0.1 cent transaction fees, and MetaMask sponsored gas.” Such factors influence the current price dynamics in terms of the improvement in network infrastructure and transaction accessibility.
The related X post also mentions other ecosystem updates, such as FlatKV benchmarks and the participation of Sei in Ondo’s USDY ecosystem. These developments provide additional context for the current interest surrounding the Sei price.
What Is Shown in the Sei Price Chart?
As per the daily chart provided by TradingView, SEI price has been showing a bounce back from the August low area in the range of $0.039-$0.040 and further advancing towards $0.045.
However, even with this bounce, the token is trading below certain crucial exponential moving averages.
To be more precise, the 20-day EMA is seen at $0.04594 and the 50-day EMA is seen at $0.04582, which creates a resistance area that needs to be broken by buyers for any technical confirmation of the recovery.
The 100-day EMA is at $0.04890 and the 200-day EMA is at $0.06500, much higher than the current price level of the token.
Also Read: Sei Price Gains 8.40% as Network Development Accelerates
What Is the Trend in Sei Price Momentum?
The MACD provides a quite cautious indicator. The MACD line is close to 0.00013, sitting below the signal line at about 0.00066, while the histogram shows a negative reading of -0.00053.
Such a setup indicates weakening momentum even as the price continues rising above its previous lows. If the price continues going up without a recovery in the MACD, then the bounce can be vulnerable to another consolidation period.
What Does CoinGlass Data Show About Sei Price?
As per the CoinGlass figures, it is clear that there is a noticeable increase in the open interest of Sei since late August. This is because the open interest has moved from $43 million towards the end of August to between $53 million and $55 million.
The trading volume has been high too, with some sessions seeing trading volume of around $90 million to $110 million. Liquidations, on the other hand, seem to be relatively low compared to previous spikes.
This suggests that the recent price movement has not been accompanied by a major liquidation spike. The combination of higher open interest and trading volume shows that market activity around Sei has increased.
Also Read: SEI Price Eyes $0.060 as Lower Fees and Rising Trading Activity Fuel Hope
Will Sei Price Manage to Break Above $0.04890?
To make the recovery more convincing, Sei will need to make a strong breakout above the EMA range of $0.04582-$0.04594. Once done, traders can keep their eyes on another significant level at $0.04890, which is the 100-day EMA level.
While the positive developments within the network are supportive, there are still technical requirements from the chart that need to be met. Buyers need to push Sei above the short-term EMA resistance before the recovery can gain stronger confirmation.
Sei Price Outlook
The current Sei price setup is not purely bullish but more ambiguous. Even though price has bounced off the low levels reached in August, the MACD signal is still weak, while Sei is trading below its primary moving averages.
At the same time, the high open interest levels, higher trading volumes, and network upgrade initiatives also point to a relatively high level of market interest in the token.
Next, the critical step will be the ability of buyers to push Sei above the short-term EMA resistance and move the token towards $0.04890.
Also Read: SEI Targets New All-Time High as Sei Giga Delivers 13.7x Performance Boost
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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