Key Takeaways:
SEI rose 11% to $0.074 after Binance confirmed it will support the Sei network's migration to SEI EVM starting June 1.
"Binance will support the Sei network's migration to SEI EVM, with deposits and withdrawals on the current SEI network suspended around June 1 and resumed on the new SEI EVM network," the exchange said in a statement, while noting trading will remain open throughout.
Trading volume jumped 192% over the past 24 hours, CoinGecko data shows, as the token reclaimed the $0.067 resistance level. The rally accelerated after a MACD bullish crossover printed on the SEI/USDT 4-hour chart on Binance, a signal that typically triggers mean-reversion and trend-following longs. The Chaikin Money Flow remains above the baseline, indicating sustained capital inflows.
The migration aligns with Sei's broader "Giga" upgrade, which targets throughput exceeding 200,000 transactions per second with sub-400ms finality — a performance benchmark that could position the Cosmos-based Layer 1 against higher-throughput competitors. The next resistance sits at $0.080, with a break above that level opening a path toward $0.093 and eventually the $0.10 psychological milestone.
The token's 11% gain outpaced most mid-cap altcoins during the Asian session, with Coinbase spot-flow monitors showing SEI recorded a roughly 428% volume spike relative to its recent baseline in a 15-minute window, alongside DOT and AAVE. Social chatter rankings placed SEI as a runner-up among actively discussed altcoins, according to exchange data.
The RSI currently reads 82, placing SEI deep inside overbought territory. While strong RSI readings often accompany aggressive rallies, they can also signal short-term exhaustion if buying pressure slows. The stochastic oscillator remains elevated at 89, confirming momentum remains strong after the breakout above the $0.063 resistance.
For traders watching the downside, a drop below the ascending support trendline near $0.063 could weaken the bullish setup and expose the token to a retest of the $0.052 zone. The broader crypto market recovery has supported the rally, with capital rotating back into high-potential altcoins as Bitcoin holds above key support levels.
This article is for informational purposes only and does not constitute investment advice.
