Key takeaways
- The SEI rose 10%, outperforming the broader cryptocurrency market.
- The coin could extend its rally towards the daily swing high of $0.092 in the near term.
The cryptocurrency market opened the new weekly candle mixed as some coins rose while others underperformed.
SEI, the native currency of the Sei blockchain, is one of the best performing coins among the top 100 cryptocurrencies by market cap.
The coin has risen by 10% in the past 24 hours and could continue to rise in the near term. Technical indicators suggest that the SEI may break above a key resistance level as the broader market remains strong.
SEI rises as Sei Labs completes EVM transition
The primary catalyst behind SEI’s recent rise has been the completion of the 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 that support the SEI token need to migrate customer holdings before stopping support for the functions associated with Cosmos and IBC.
The team’s key message: Sei EVM is not a separate series. “It’s the same series with a second way to interact with it,” Sei Labs said in the announcement. Any place that treats “Sei” and “Sei EVM” as two distinct integrations needs to merge them into one.
This push closes SIP-3, the May 2025 governance vote that approved Sei’s pivot toward an EVM-only architecture.
The transition is being phased in through 2026, with the EVM stake added in January, disabling inbound IBC transfers in February, and replacing native Oracle with Chainlink, Pyth, and API3 in March.
SEI bulls are targeting the $0.080 resistance level
The 4-hour SEI/USD chart is bearish and inactive thanks to Sei’s recent rise. Momentum indicators indicate that the bulls are still in control of the market.
An RSI of 70 means that the SEI is approaching the overbought zone, which may indicate incoming selling pressure. The MACD lines are also within positive territory, adding more convergence to the bullish narrative.
If the uptrend continues, the SEI could rise above the $0.0800 level in the near term. The swing high on the daily chart at $0.09248 could be the SEI target in the coming days and weeks.
However, if sellers regain control, SEI may fall to the support level at $0.07021. Missing this level could cause the bears to push the price down towards the psychological level at $0.06490.
