SEI and KAIA Tokens Rise Ahead of Quadruple Witching Event

SEI and KAIA tokens continued their upward trajectory on Friday, with Bitcoin maintaining its position below $105,000. This resilience among traders comes ahead of a potentially volatile derivatives expiration day, known as "quadruple witching." This event could test the stability of altcoins, but if Bitcoin remains above the crucial support level of $104,000, SEI and KAIA may have further room for growth.

SEI was trading at $0.1948 early Friday, marking a 6% increase over the past week. The token's closest support and resistance levels are at $0.1582 and $0.2494, respectively. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) support a bullish outlook for SEI. The RSI is at 50 and trending upwards, while the MACD indicates positive momentum in the daily price trend. If this bullish trend continues, SEI could close above the resistance level of $0.2494 and test the next resistance at $0.2750, which was the token's peak on May 11. However, increased volatility could lead to a correction, pushing SEI down to the support level of $0.1303.

KAIA, on the other hand, was trading above the $0.19 mark on Friday, with a 2% gain for the day and a nearly 9% increase over the past week. The token's RSI indicates it is currently overvalued, but it does not typically generate a sell signal until it dips below 70. The MACD shows increasingly taller green histogram bars, suggesting an underlying positive trend in KAIA's price. The closest resistance for KAIA is at $0.2054, with the next hurdle at $0.2525 before potentially retesting the 2025 peak at $0.2665. Conversely, if the market turns bearish, KAIA could drop to the support levels of $0.08 or $0.1077.

The upcoming "quadruple witching" event has traders on edge, anticipating higher volatility and price swings in both Bitcoin and altcoin prices. Despite this, most altcoins ended the week in the green, and traders remained neutral on Friday, with sentiment at 54 on a scale of 0 to 100. This neutral outlook suggests that the market may be resilient to short-lived volatility, as it has shown in the face of previous geopolitical tensions and macroeconomic shocks. The optimism surrounding the passage of the GENIUS Act in the Senate, the resolution of the SEC v. Ripple lawsuit, and the SEC’s leniency toward the crypto sector may also contribute to this resilience.

If altcoin market capitalization can hold above the key support level of $1.09 trillion, tokens like SEI and KAIA may weather the upcoming volatility without erasing their prior gains. The market's ability to defend this support level will be crucial in determining the outcome of the "quadruple witching" event and the overall health of the altcoin market.