Attention is turning to the SEI price as Sei Network pushes ahead with its Giga upgrade, with SIP-3, Eidos, and Ares all flagged as in progress.
The Autobahn mainnet is still the next big milestone, but fading technical momentum and shrinking derivatives activity are keeping traders wary about where the token heads in the near term.
At the time of writing, SEI is changing hands at $0.06179, a 0.88% drop over the last 24 hours, based on the TradingView chart provided.
Also Read: SEI Price Gains Attention as Sei Network Expands Tokenized Stock Access
What Did Sei Disclose About Its Giga Upgrade?
In its newest update, Sei Network details progress on three pieces of its Giga upgrade: SIP-3, Eidos, and Ares. The project also named the Autobahn mainnet as the next key milestone, though no specific launch date was given in the update.
The tweet states, “SIP-3 lands shortly: one EVM surface for an optimized trading experience.” It also says Eidos and Ares are on track, with the Autobahn mainnet identified as the next critical part of Giga.
The upgrade aims to improve Sei’s execution capabilities and overall network performance, with the broader goal of supporting high-throughput trading applications while offering a more efficient environment for developers and users.
This work could shift market sentiment if the network shows real performance gains and draws in more applications. Still, upgrade progress by itself does not guarantee that demand for SEI will rise. Traders will probably want to see proof that these technical gains are translating into stronger ecosystem activity.
Also Read: Sei Price Holds Near $0.072 as Hermes Update Draws Attention
What Is the SEI Price Chart Showing?
SEI is trading at $0.06179, which sits below the middle Bollinger Band of $0.06989. That gap underscores the selling pressure that built up after the token’s late-September rally toward $0.08.
With the lower Bollinger Band at $0.06052, the $0.0605 area is an immediate support reference, while the broader $0.060–$0.061 zone remains important to watch.
If the price breaks below this area and fails to recover, SEI could face additional declines. Looking upward, the token first meets resistance around $0.067, and beyond that, the middle Bollinger Band near $0.06989.
The Relative Strength Index (RSI) sits at 45.85, which is under the neutral 50 mark and below its signal average of 56.50. This points to fading bullish momentum. Even so, the RSI has not yet reached oversold levels, so a rebound remains possible should buying pressure pick up again.
Also Read: SEI Price Gains Momentum as Sei Network Advances Staked ETF Plan
Are Derivatives Traders Turning More Cautious?
According to CoinGlass data, SEI open interest has dropped from roughly $120 million in early October to about $75–80 million by October 15.
Such a decline signals that outstanding derivatives positions have shrunk amid the recent pullback. This may indicate that traders are reducing their exposure, although falling open interest does not reveal whether long or short positions account for the decline. Open interest by itself cannot show whether the market leans mostly bullish or bearish.
Trading volume has likewise cooled from the large spikes seen during the late-September rally. This quieter activity may suggest traders are holding off for a clearer catalyst before opening new positions.
Is Sei’s DeFi Activity Backing the Upgrade Narrative?
The DeFiLlama chart provided indicates that Sei’s total value locked (TVL) has declined from about $40 million in late September to roughly $28 million by October 15.
The same chart follows DEX volume, active addresses, and transactions, all of which moved unevenly across the period. The available data does not yet establish sustained growth in network usage alongside the upgrade progress.
For SEI, stronger DeFi participation would help show that network improvements are feeding into deeper ecosystem engagement. However, TVL and transaction activity alone cannot establish whether the Giga upgrade is responsible for any change in network usage.
Also Read: SEI Price Eyes Breakout to $0.34 as Network Activity Strengthens Outlook
What Lies Ahead for SEI Price?
SEI’s near-term direction hinges on whether buyers hold support around $0.0605 and drive the token back above $0.067. A breakout could shift attention to $0.06989, whereas a prolonged drop below $0.0605 would undermine the short-term technical picture.
At the same time, traders will keep watching for further Giga updates, especially movement toward the Autobahn mainnet.
What matters most is whether Sei will be able to translate its technical advances into greater network activity and stronger demand for SEI.
Also Read: SEI Price Eyes Breakout Toward $0.80 as Network Ecosystem Expands
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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