Key Takeaways:
The SEI token gained over 10 percent on April 22, breaking a prolonged downtrend as momentum shifted in favor of bulls.
The move was supported by a shift in derivatives positioning, with Coinglass data showing renewed capital inflows and rising demand for leverage across major tokens, including SEI's peers.
For weeks, sellers had maintained control with a series of lower highs, but the structure has now flipped. The breakout was accompanied by a broader market rally, with futures open interest for cryptocurrencies increasing by over 4% to $126 billion in 24 hours, indicating fresh capital entering the market.
The breakout puts SEI on watch for a potential sustained uptrend, with the next test for many altcoins being the sentiment around Bitcoin's push toward the $78,000 resistance level. The move increases SEI's visibility among momentum traders.
This article is for informational purposes only and does not constitute investment advice.
