SEI Cost Soars 35% in 3 Days After Wyoming Stablecoin Pilot Nod
Sei rallied 35% in 3 days of being shortlisted on Wyoming as one of the pilot programs of state-backed stablecoins. The token is coming out of a long-term wedge pattern where strong technical indicators backed the rally. Analysts see more upside as trading liquidity doubles and financier sentiment strengthens. Sei (SEI) has actually seen an abrupt uptick in costs this week as it was chosen as one of the finalists in the Wyoming Stable Token (WYST) pilot program. SEI has increased 15% in 24 hours, according to market data, to about $1.18 billion in market cap.
Technical Indicators Confirm Bullish Momentum
The daily chart of SEI/USDT suggests a bullish breakout in a six-month coming down widening wedge, which supports the sentiment modification. The MACD line has actually broken the signal line to the upside, a bullish crossover, consequently showing additional bullish impetus.
Source: Trading View
Bollinger Bands also verify the increased volatility, where SEI is approaching the upper band at the $0.2107 level, casting considerable short-term need.
Sei rallied 35% in 3 days of being shortlisted on Wyoming as one of the pilot programs of state-backed stablecoins. The token is coming out of a long-term wedge pattern where strong technical signs backed the rally. Analysts see more upside as trading liquidity doubles and financier sentiment strengthens. Sei (SEI) has actually seen an unexpected uptick in prices this week as it was chosen as one of the finalists in the Wyoming Steady Token (WYST) pilot program. SEI has increased 15% in 24 hours, according to market data, to about $1.18 billion in market cap.
Technical Indicators Confirm Bullish Momentum
The daily chart of SEI/USDT shows a bullish breakout in a six-month descending widening wedge, which supports the sentiment modification. The MACD line has broken the signal line to the benefit, a bullish crossover, therefore suggesting additional bullish impetus.
Source: Trading View
Bollinger Bands likewise confirm the increased volatility, where SEI is approaching the upper band at the $0.2107 level, casting significant short-term demand.
Sei rallied 35% in 3 days of being shortlisted on Wyoming as one of the pilot programs of state-backed stablecoins. In 2023, the Wyoming Stable Token Commission selected Sei and Aptos to go into the final screening stage. SEI has increased 15% in 24 hours, according to market information, to about $1.18 billion in market cap.
Sei rallied 35% in 3 days of being shortlisted on Wyoming as one of the pilot programs of state-backed stablecoins. On June 20, SEI stood at $0.2136, 35% higher than its recent low of $0.1596 3 days prior. In 2023, the Wyoming Steady Token Commission selected Sei and Aptos to go into the last testing phase. SEI has actually increased 15% in 24 hours, according to market information, to about $1.18 billion in market cap. A popular trader called FOUR indicated the structure of the charts, implying SEI may be tailoring up for a longer motion to the rate at the level of 0.80, assuming the momentum sustains.
