Key Takeaways
- SEI increased nearly 80% over the past seven days after the Wyoming Stable Token Commission selected the Sei blockchain.
- The coin could recover to $0.40 soon if bullish momentum continues.
SEI Rises Above $0.30
SEI, the native token of the Sei blockchain, was among last week’s top performers, gaining almost 80% during that period. The strong move came despite a wider market sell-off triggered by the conflict between Iran and Israel.
The coin rallied after Sei was announced as one of two blockchains chosen in the latest round by the Wyoming Stable Token Commission to host WYST, the first state-backed fiat-collateralized stablecoin issued in the U.S.
SEI climbed to $0.34, its highest level since January 2025, before easing back to $0.30. If bullish conditions persist, the token could push toward $0.40.
SEI Could Reach $0.40 Soon
The 4-hour chart for SEI/USD shows a bullish and decisive pattern, suggesting buyers currently control the market and may lift SEI higher in the near term. At the time of writing, SEI trades around $0.3045, with a strong support level forming near $0.29.
A 72 reading on the Relative Strength Index (RSI) indicates buyers are firmly in control. MACD lines are also in bullish territory, supporting the possibility of further upside for the SEI/USD pair.
If bullish momentum continues, SEI could test the next resistance level at $0.41. In the event of an extended rally, the token could reach $0.48 for the first time since January 2025.
However, the SEI/USD pair could turn bearish if the conflict between Israel and Iran escalates further. In that scenario, SEI may retest the $0.29 support or fall toward $0.23.