SEI price rose 8.67% in the past 24 hours, making it one of the day’s top gainers after Aave (AAVE) and Jupiter (JUP) and just ahead of Lighter (LIT). Its trading volume also jumped 128% to around $61.6 million, much higher than the market’s 33% increase. This points to strong spot buying instead of activity driven by derivatives or Bitcoin price performance. Meanwhile, BTC fell 1.65% during the same period, so SEI’s move was driven by its own momentum.
Record Revenue Per User and Sedna Drive SEI Coin Higher
SEI’s fundamentals have been improving. Last week, Token Relations reported average revenue per user at a record $0.01373, up from the $0.00033-$0.00058 range seen earlier this year. That’s about 40 times higher per user.
This growth came even as the network shrank. Daily EVM transactions dropped 29.1% to 25,700, and active addresses fell 7.9% to 4,000. The users who remain are more focused on higher-value trading and DeFi, not on low-fee wash trades.
The key factor is Sei’s trading infrastructure. Sei gas fees are just $0.00041 per transaction, the lowest among eight chains, compared to $0.17 for ETH and $0.113 for BNB.
Sei Labs is also promoting Sedna, a rateless-coding MEV-resistance solution. Analysts say Sedna delivers 90% of the benefits with almost no added complexity, and the Sei Research Initiative estimates its cost at about 0.04% of each transaction’s value.
SEI Price Approaches $0.058 as RSI Nears Overbought Level
On the 2-hour chart, SEI price is trading at the top of an upward channel, last seen at $0.05768, which is well above its $0.05450 EMA-21. The RSI is at 69.90, showing that it’s close to being overbought. The price has regained its short-term trend but is now facing resistance from longer-term averages between $0.058 and $0.064.
This price range is where More Crypto Online’s broader analysis comes in. The analyst still sees SEI in a long-term downtrend, with the overall structure remaining bearish even after the bounce from its recent lows.
The main scenario views the move up from support near $0.045 as a possible wave-4 rally, which may already be happening or just starting from the June low. One more high could finish a small five-wave advance and signal the start of a larger wave-C recovery.
The risk, however, is that the main trend is still downward, and there is no sign of a long-term reversal yet. Until a clear five-wave advance appears, each rally should be seen as a correction. The $0.045 level is key support. According to the analyst, only a completed five-wave move would be a real bullish signal. Anything less means this is just a temporary bounce, not a full trend change.
The SEI price outlook depends on a few things: staying in the channel, holding above $0.045, and breaking through the $0.058-$0.064 resistance. If these happen, short-term buyers could keep pushing the price up. If not, the longer-term averages and wave patterns will take over again.
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