Sei (SEI) saw double-digit gains this week, flipping the $0.28 supply zone into support and consolidating below $0.30. SEI rose 15%, from $0.25 to $0.30, but hasn't yet broken past the $0.30 resistance. Technical indicators, like the RSI, suggest more room for growth, with potential targets of $0.35 and $0.39 if it clears $0.30.

If SEI fails to hold the $0.25 Q3 support, the bullish outlook would be invalidated. On-chain data shows a spike in daily active addresses, from under 25K to over 55K, indicating increased network activity that could fuel the price rally.

Derivatives markets reflect bullish sentiment with a 5% price rise, 8% uptick in open interest, and 41% higher trading volume. Long positions dominate, suggesting traders expect more gains.