SEI Price Consolidates Near $0.28 Amid ETF Filing Buzz

SEI has recently gained significant attention after achieving a new all-time high in total value locked (TVL), as noted by veteran analyst Crypto Rand. This surge in TVL is potentially linked to the news that Valour has filed for a SEI-based exchange-traded fund (ETF) in the U.S. Despite the impressive on-chain metrics, the price of SEI has been hovering just below $0.28, keeping traders closely monitoring the market.

SEI's price has shown a notable rally after breaking through a key resistance level near $0.22, reaching a peak around $0.33. However, the momentum has since subsided, and the price has settled into a tight consolidation range between approximately $0.27 and $0.29. This range forms a descending triangle pattern, which is generally not considered bullish unless there is a significant change in market dynamics.

The 50-period simple moving average is currently around $0.2842 and is acting as a resistance level. For SEI to shift its short-term trend to bullish, the price would need to flip this moving average into support and push through the top of the triangle. Until this happens, the market structure leans slightly bearish.

Below the current range, there is support around $0.25. If this level does not hold, the next major demand zone is between $0.215 and $0.185. This area previously helped launch a significant upward move, suggesting it could be a point where buyers re-enter the market if they show up.

The Relative Strength Index (RSI) is currently around 43, indicating neither strong bullish nor bearish momentum. There is no clear divergence, suggesting that the market may remain in this sideways pattern for some time unless there is a significant increase in volume or a clear price breakout.

Currently, SEI's price is in a holding pattern, but the buzz around the potential ETF has traders closely watching for any developments. The next move for SEI's price will depend on whether it can break above $0.29 and reclaim the 50-SMA, which could shift short-term sentiment to bullish and potentially set up a return to the $0.33 high. Conversely, if sellers push the price below $0.27, the focus will shift to the $0.22–$0.21 zone. A breakdown there could bring the $0.19 area into play.

As the price consolidates, network activity on the SEI blockchain is rising. Crypto Rand highlighted the record TVL and suggested that the ETF narrative could be a driving factor. If institutional interest continues to grow, it may support the price through accumulation or breakout phases. While SEI's price remains range-bound in the short term, long-term technical and on-chain factors are building a base for future movement. Traders are preparing for potential volatility once the current market structure resolves.