SEI Bullish Retest Nears $0.35 Support with $0.90 Target

Key Insights:

• SEI approaches $0.35 support, signaling potential rise to $0.90 with positive technical indicators.
• On-chain growth hits new highs, with TVL reaching $680M and daily active addresses soaring.
• Institutional support, ETF filings, and RWAs provide significant growth potential for Sei Network.

Sei Network’s native token is showing signs of a bullish retest as it approaches the $0.35 support level. Analysts are optimistic that if this support holds, the token could target $0.90 in the near future.

Market Activity and Technical Indicators

SEI has recently experienced a slight price increase, up by 0.27% in the last 24 hours, bringing its current value to $0.295. Despite this modest rise, market analysts remain cautious due to short-term pressure. 

The general outlook is positive as $SEI approaches the $0.35 support level. According to analyst Ali_charts, a successful retest of the $0.35 support would set the stage for a potential climb toward $0.90. 

This forecast is based on strong technical indicators showing bullish momentum. Despite these short-term challenges, many are optimistic about the medium-term outlook.

On-Chain Growth and Institutional Support

Sei Network’s fundamentals continue to strengthen, especially in terms of on-chain growth. The network has reached an all-time high of $680 million in Total Value Locked (TVL). The number of Daily Active Addresses (DAAs) has tripled to 800,000, with 1.8 million transactions per day. 

Sei has seen significant institutional support. At a market cap of approximately $1.8 billion, SEI is relatively undervalued compared to other blockchain projects like Sui ($12 billion) and Solana ($120 billion).

The network has secured custody from Crypto.com, and recent filings for ETFs from 21Shares and Canary Capital could help bring more institutional capital into the Sei ecosystem. As mentioned by Kaffchad, the market keeps fading at $0.3 while the chain just hit milestones.

The network’s combination of on-chain growth, institutional support, and DeFi integration presents a strong case for future price appreciation.

Potential for Future Growth in DeFi

Moreover, the Sei platform continues to grow in the decentralized finance (DeFi) space. The increase in TVL and the ongoing improvements in transaction speeds are likely to keep boosting the demand for $SEI. 

Sei’s recent Giga upgrade, which pushes the network’s capacity past 200,000 transactions per second, gives it a technological edge in the growing blockchain space. Sei’s involvement in tokenized assets and real-world assets (RWAs) could further expand its reach.

According to the Sei Network’s official statement, RWAs have recently hit $30 billion, adding liquidity to DeFi markets. This could open new avenues for Sei to grow as more institutional players seek access to its platform.