Key takeaways
- SEI is up 10%, outperforming the broader cryptocurrency market.
- The coin could extend its rally towards the $0.092 daily swing high in the near term.
The cryptocurrency market opened the new weekly candle mixed as some coins rallied while others underperformed.
SEI, the native coin of the Sei blockchain, is one of the best performers among the top 100 cryptocurrencies by market cap.
The coin is up by 10% in the last 24 hours and could extend its rally in the near term. Technical indicators suggest that SEI could surge past a key resistance level as the broader market remains strong.
SEI rallies as Sei Labs completes EVM Transition
The primary catalyst behind SEI’s latest rally is the completion of its unified EVM architecture.
The team announced over the weekend that it has completed its transition to a unified, EVM-only architecture.
This means that exchanges and custodians supporting the SEI token need to migrate customer holdings before support for Cosmos and IBC-related functionality is deprecated.
The team’s core message: Sei EVM is not a separate chain. “It’s the same chain with a second way to interact with it,” Sei Labs said in the announcement. Any venue that treats “Sei” and “Sei EVM” as two distinct integrations needs to consolidate them into one.
The push closes out SIP-3, the May 2025 governance vote that approved Sei’s pivot to a fully EVM-only architecture.
The transition has rolled out in stages through 2026, with EVM staking added in January, inbound IBC transfers disabled in February, and the native oracle replaced by Chainlink, Pyth, and API3 in March.
SEI bulls target the $0.080 resistance level
The SEI/USD 4H chart is bearish and inefficient thanks to Sei’s latest rally. The momentum indicators suggest that the bulls remain in control of the market.
The RSI of 70 means that SEI is approaching the overbought region, which could signal incoming selling pressure. The MACD lines are also within the positive territory, adding further confluence to the bullish narrative.
If the bullish trend persists, SEI could rally past the $0.0800 level in the near term. The swing high on the daily chart at $0.09248 could be SEI’s target in the coming days and weeks.
However, if the sellers regain control, SEI could drop to the support level at $0.07021. Losing this level could see the bears push the price lower towards the $0.06490 pyschological level.
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