Key Insights
- Sei price compresses in a triangle, signaling breakout potential soon.
- On-chain transactions rise, while TVL stabilizes at nearly $535 Million.
- Resistance stands at $0.31 with a $0.36 upside target.
Sei price is currently forming a symmetrical triangle pattern. That’s a technical pattern that typically precedes a significant momentum shift. SEI was approximately $0.2875 as of October 9, representing a very thin margin below a key support level.
Sei Price Going to $0.36
Analyst Ali Martinez sees alignment between fundamental and technical indicators. This supports a bullish breakout with an initial target of $0.36. This target is positioned directly below the recent highs seen in July. It may be a crucial point in the existing market structure.
SEI price action is tightening near a descending trendline of resistance. It’s also holding above a horizontal support level around 0.2820. Since mid-August, Sei has been forming a distinct price pattern. It features lower highs and higher lows, typical of a triangle setup.
Such formation is usually resolved by way of a breakout or breakdown when market pressure builds up to the convergence point. The triangle shapes have put upper resistance at around $0.31. This has thwarted upward movements on several occasions in recent months.
The bottom support line sits at $0.2710. It acts as a key foundation where buyers consistently step in. This level has triggered both breakout and retracement moves within the pattern.
The chart shows a key resistance at $0.31. A close above this level could spark a breakout. This may lead to rallies toward the next primary target at $0.36.
Should the support fall below the value of 0.2710, though, the formation would change to a bearish continuation. This could bring the Sei price nearer to the range of 0.25 shown at the bottom of the formation.
On-Chain Activity Shows Growing Network Usage
On-chain data indicate that the Sei Network has recently experienced an increase in activity. The number of transactions made on the chain daily has increased by 15.7% to 5.7 million.
The number of transactions initially decreased at the beginning of the quarter. However, it has since gained momentum, indicating that the network is once again engaged.
This transaction level matches the high activity seen in past Augusts. During those periods, network usage surged significantly. At its peak, it hit over six million transactions daily.
This ongoing activity reflects strong user engagement. It highlights the network’s practical value. This remains true even when prices are relatively stagnant.
Together with transaction volume, total value locked (TVL) on Sei is at $535.1 Million. This represents a negative growth rate of 17.6% in the same period, indicating moderate stability.
A stable TVL signal committed capital within the Sei ecosystem. This capital serves as a foundation for support. It may help sustain momentum as technical compression nears its breakout point.
Sei Price Performance Struggling
Performance data indicates that the token has declined by 3.15% over the last week. It had also declined by 9.95% over the previous month. SEI price has decreased by 5.50% over the past three months. However, it has experienced a 93.50% growth in the past six months.
Its performance year-to-date is declining by 31.39%, while its performance over the past five years has increased by 61.38%.
These mixed results highlight the token’s volatility. Despite fluctuations, it has retained most of its earlier gains. This resilience is notable. It aligns with the current phase of consolidation.
Looking at indicators, we see that the standard deviation indicator currently stands at 0.0211 (with a 20-day close). This relatively low reading reflects reduced volatility during the consolidation phase, often preceding a larger directional move.
Crispus is a distinguished Financial Analyst at, bringing over 12 years of expertise in cryptocurrency markets, specializing in Bitcoin and altcoins. Renowned for his sharp insights at the nexus of market trends and breaking news, Crispus delivers actionable analysis to empower investors. His work is prominently featured across leading platforms, including BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com, cementing his reputation as a trusted voice in the financial world.
