SEI Surges 9.72% Breaking $0.2241 Resistance Level

SEI, a prominent digital asset, has recently demonstrated a significant bullish movement, breaking above the $0.2241 resistance level with a notable 9.72% daily gain. This surge in price has been accompanied by a substantial increase in 24-hour volume, reaching $430.3 million, indicating heightened market participation and interest in the asset.

The price of SEI has successfully reclaimed the descending trendline and the key $0.18 support zone, a level not seen since early June. This breakout suggests a potential shift in market sentiment, as the asset attempts to escape the downtrend that has been in place for several weeks. The volume-to-market cap ratio has hit 34.92%, further signaling rising turnover as the market capitalization reaches $1.23 billion.

The recent price action of SEI has shown repeated attempts to break through resistance levels, with the most significant development occurring between June 20 and June 21. On June 20, SEI was trading near $0.2053, with price action remaining compressed below a descending resistance trendline. However, by June 21, SEI had decisively broken through this trendline, marking the third time the token tested this level since mid-May. Each previous attempt faced rejection, but this time, the price pushed past with conviction, indicating a potential change in market dynamics.

The volume profile on the daily chart reinforces this breakout, with visible range peaks clustered below $0.20 and thinner activity seen above. Despite this, SEI managed to reclaim price territory not visited consistently since early June, adding technical weight to the ongoing recovery seen across the daily time frame. The market capitalization of SEI currently stands at $1.23 billion, with a fully diluted valuation of $2.21 billion and a circulating supply of 5.55 billion SEI out of a total supply of 10 billion.

The 88.11% volume jump aligns with a visible trend reversal confirmed by the latest candlestick pattern. Price has now reclaimed levels above the horizontal structure at $0.18, which had served as a support-resistance flip line since March. Each time the price hovered around this level, it either found support or initiated a bounce. As of June 21, the daily close above the descending resistance may redefine near-term price action. The asset’s reclaim above key chart structures now aligns with the elevated spot volume and price response seen over the last 24 hours, suggesting a potential continuation of the bullish momentum.