SEI Rate Skyrockets on Circle Stimulates Investor FOMO; Traders Now Ask Is $1 Next?

Sei Network (SEI) surged over 17% in the last 24 hours, climbing to a daily high of $0.3341 before settling near $0.30 at the time of composing. The post SEI Cost Soars on Circle Triggers Investor FOMO; Traders Now Ask Is $1 Next?

The price of Sei (SEI) has actually surged over 17%, driven by speculation linking it to Circle. Reports suggest Circle’s IPO filing disclosed a large holding of SEI tokens. Technical indicators show strong momentum, but the RSI remains in overbought area. Sei Network (SEI) surged over 17% in the last 24 hr, climbing to a daily high of $0.3341 before settling near $0.30 at the time of composing. The rally has been strong enough to push the altcoin into the top 50 cryptocurrencies by market capitalization, leaving investors wondering if the powerful momentum could eventually bring SEI back toward the $1 mark. What’s Fueling the SEI Frenzy? The rally was set off by a hit discovery: Circle, the provider of USDC and newly IPO ‘d with a staggering $59 billion valuation, is now validated to be one of the largest holders of SEI. According to SEI’s main declaration, Circle’s IPO filing divulged holdings of 6.25 million SEI tokens, the most significant crypto holding on its balance sheet. “Congratulations on the extremely effective IPO of one of the biggest investors in $SEI, Circle,” said the Sei Network on X, including: The rally is also getting an increase from a positive regulatory background in the United States. The Senate just recently passed the GENIUS Act, a comprehensive structure for stablecoins, with broad bipartisan assistance in a 68-30 vote. Related: Trump’s Push for Speed Puts Senate-Passed GENIUS Act to a Political Test in your house That expense is now with your house of Representatives, where it might face some hold-ups as lawmakers debate whether to merge it with the CLARITY Act, a different costs that aims to produce a more comprehensive market structure for all of crypto. Still, the development on stablecoin guideline is seen as a major favorable for the whole community. What Are the Charts Saying About SEI’s Next Move? The SEI daily chart listed below shows a huge rebound for SEI. After bouncing off a bottom at $0.1573 and recovering the crucial 0.618 Fib level at $0.2206, SEI is now hovering near the 1.0 extension at $0.2743 and has actually gotten near to the 1.618 extension at $0.3466. If bullish momentum continues, the next Fibonacci levels to view are 2.618 at $0.4636, 3.618 at $0.5806, and 4.236 level at $0.6529. These levels represent possible mid-term targets, with $0.46 being the most practical next stop. The RSI has actually crossed above 74, a clear sign of overbought conditions. While this shows strong bullish momentum, it also cautions of a possible short-term pullback or consolidation. Related: In Significant Policy Explanation, Fed Chair States Banks Are ‘Free to Engage’ With Crypto On the other hand, the MACD line is now decisively above the signal line and getting in favorable territory, indicating a fresh bullish crossover. The histogram is growing, suggesting the momentum is not yet exhausted.

Sei Network (SEI) surged over 17% in the last 24 hours, climbing up to a daily high of $0.3341 before settling near $0.30 at the time of composing. According to SEI’s official statement, Circle’s IPO filing divulged holdings of 6.25 million SEI tokens, the most significant crypto holding on its balance sheet. “Congratulations on the incredibly successful IPO of one of the biggest investors in $SEI, Circle,” stated the Sei Network on X, including: The rally is likewise getting a boost from a positive regulatory backdrop in the United States. The SEI everyday chart below programs a huge rebound for SEI.