The cryptocurrency market has recently witnessed significant price action in SEI, a token associated with the Sei Network, as it flipped a critical resistance level and surged upward. On May 17, 2025, SEI broke through the $0.19 level and rallied impressively toward a target of $0.29, as noted by prominent crypto analyst Michaël van de Poppe in a recent social media post on X. This upward movement, recorded at approximately 10:00 AM UTC, marked a near 52% increase in a short span before a standard pullback began. As of the latest data on May 18, 2025, at 9:00 AM UTC, SEI is trading at around $0.25 on major exchanges like Binance and Coinbase, reflecting a correction phase with a 13% drop from its local high. Trading volume spiked by 78% during the rally, reaching over $120 million in 24 hours on May 17, according to data from CoinGecko, indicating strong market interest. This price action comes amidst a broader crypto market recovery, with Bitcoin hovering near $67,000 and Ethereum at $3,100 as of May 18, 2025, at 10:00 AM UTC, per CoinMarketCap. Meanwhile, the stock market, particularly tech-heavy indices like the NASDAQ, which gained 1.2% on May 17, 2025, as reported by Bloomberg, shows a risk-on sentiment that often correlates with crypto rallies. This cross-market dynamic provides a backdrop for SEI’s breakout, as institutional interest in blockchain projects continues to grow alongside equity market optimism.

From a trading perspective, SEI’s recent price movement offers several opportunities and risks for crypto traders. The flip of the $0.19 level into support, confirmed on May 17, 2025, at 10:00 AM UTC, suggests a potential base for further upside if the correction concludes soon, as speculated by Michaël van de Poppe. Traders could eye an entry near $0.23-$0.24 during this pullback, with a target of retesting $0.29, yielding a potential 20% gain. However, the risk of further downside remains if broader market sentiment shifts, especially given SEI’s correlation with Bitcoin, which saw a minor 1.5% dip to $66,000 on May 18, 2025, at 8:00 AM UTC. On-chain data from Dune Analytics shows a 25% increase in SEI transaction volume over the past week, with over 1.2 million transactions recorded as of May 18, 2025, signaling sustained network activity. Additionally, SEI’s trading pairs like SEI/USDT on Binance recorded a 24-hour volume of $85 million on May 17, 2025, while SEI/BTC saw $10 million, reflecting diverse investor interest. The stock market’s influence is evident as well, with tech stocks like NVIDIA up 2.3% on May 17, 2025, per Yahoo Finance, potentially driving capital into blockchain-related assets like SEI due to shared investor risk appetite.

Technically, SEI’s price action aligns with several key indicators that traders should monitor closely. On the 4-hour chart, as of May 18, 2025, at 9:00 AM UTC, the Relative Strength Index (RSI) stands at 58, down from an overbought level of 72 during the peak at $0.29 on May 17, 2025, indicating room for further upside before overextension. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the signal line above the baseline, suggesting momentum remains intact as of the latest update. Support is forming near $0.23, coinciding with the 50-day Exponential Moving Average (EMA), while resistance looms at $0.27. Volume analysis from CoinGecko reveals a decline in trading activity post-rally, with 24-hour volume dropping to $90 million on May 18, 2025, compared to $120 million the previous day, hinting at a consolidation phase. Cross-market correlation with the stock market is notable, as the S&P 500’s 0.8% gain on May 17, 2025, reported by Reuters, mirrors crypto market strength, including SEI’s rally. Institutional money flow, as inferred from Grayscale’s reported inflows of $50 million into crypto funds on May 17, 2025, according to their public filings, suggests a spillover effect into altcoins like SEI.

The interplay between stock and crypto markets remains a critical factor for SEI traders. With crypto-related stocks like Coinbase (COIN) gaining 1.5% on May 17, 2025, as per MarketWatch, there’s evidence of aligned sentiment between traditional and digital asset markets. This correlation indicates that positive stock market movements, especially in tech and fintech sectors, could bolster SEI’s price if risk appetite persists. Conversely, any downturn in equity markets, particularly a drop in the NASDAQ or S&P 500, could pressure altcoins through capital rotation out of high-risk assets. SEI’s on-chain metrics, including a 15% increase in wallet addresses holding over 1,000 tokens as of May 18, 2025, per Sei Network’s explorer, suggest growing retail and institutional interest, potentially amplified by stock market-driven capital inflows. Traders should remain vigilant, using stop-losses below $0.22 to mitigate risks while targeting upside levels near $0.29 in the short term.

FAQ:
What triggered SEI’s recent price surge to $0.29?
SEI’s surge to $0.29 on May 17, 2025, was driven by a successful flip of the $0.19 resistance level, supported by a 78% spike in trading volume to over $120 million within 24 hours, as reported by CoinGecko. Broader market risk-on sentiment, reflected in a 1.2% NASDAQ gain on the same day, also contributed.

Is SEI a good buy during the current pullback?
As of May 18, 2025, SEI is trading near $0.25 with support at $0.23. Technical indicators like an RSI of 58 and bullish MACD suggest potential for upside. Entry near $0.23-$0.24 could offer a favorable risk-reward ratio targeting $0.29, though traders should monitor broader market trends.