SEI is finally getting a bit of relief after a rough stretch. Over the past day, the SEI price has pushed higher and reclaimed levels it recently lost, which naturally stands out in a market that’s still feeling cautious overall.

That said, this move doesn’t look like a full trend change just yet. The SEI chart indicates buyers stepped in at a familiar support zone, triggering a bounce, but whether that bounce can turn into something bigger is still an open question.

The SEI price rebound started near the $0.106 level, an area that has held up as support more than once. When price dipped into that zone again, buyers showed up quickly, helping SEI climb back above $0.110.

This type of move usually points to short-term traders reacting to levels rather than long-term investors stepping in. The RSI sitting around 38 supports that idea, showing there’s still room for upside without the market being overheated.

For now, the SEI price is pressing toward the $0.115 area, which is the next level traders are watching. The big picture is still about the same. The price sits under the 30-day moving average around $0.125, keeping the overall trend pressured.

There was also some ecosystem news in the background. On December 25, Wormhole rolled out its Market Infrastructure Grid on Sei, connecting stablecoins like USDC and USDT with tokenization platforms such as Ondo and Securitize.

From a longer-term perspective, this fits well with Sei’s push toward institutional-grade infrastructure. It’s a positive step, but the market reaction was fairly muted. That indicates traders want to see real adoption before assigning much value to the update.

So far, on-chain activity, including TVL and transaction volume, hasn’t shown a meaningful jump, which limits how much this news can move price in the short term.

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Meanwhile, the SEI price climbed back amidst the wider crypto space inching up modestly, with the total market cap nudging higher; Bitcoin’s share of the market eases off a touch to give altcoins a bit of room to move.

Even so, sentiment remains defensive. The Fear and Greed Index is still deep in fear territory, and SEI’s open interest has dropped by nearly 12% over the past week. That points to traders reducing exposure rather than aggressively betting on a rally.

Right now, the SEI price move looks like a technical bounce mixed with some cautious optimism. The most important level to watch is $0.110. Holding above it keeps the short-term recovery alive.

If momentum fades, a pullback toward $0.106 wouldn’t be surprising. For this move to turn into something more meaningful, SEI will need stronger volume and clearer signs of network growth. 

Until then, today’s price action looks more like a pause in the downtrend than a confirmed reversal.

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The post Why Is the SEI Price Pumping Today? appeared first on CaptainAltcoin.

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