So, like, the SEI price is like totally going through some changes, you know? It’s like showing signs that it might be going up soon, which is pretty exciting for all the investors out there. Apparently, Canary Capital is thinking about launching a staked SEI exchange-traded fund, which has got everyone buzzing with anticipation.
SEI, which has been on a bit of a downward trend since January, is finally starting to turn things around. It recently hit a slightly higher high for the first time in a while. Right now, it’s testing this super important resistance level at $0.20, which used to be a lower high. Plus, it lines up perfectly with this descending trendline. SEI has managed to reclaim both the EMA-20 and SMA-50, and it’s inching closer to the SMA-100 at $0.22. This could be a sign that a big change is on the horizon for SEI.
The momentum indicators are also looking pretty good for SEI. The MACD is showing a positive histogram and a bullish signal line crossover. And the Relative Strength Index is at 66, which means there’s a lot of buying pressure and it’s getting close to being overbought.
Looking ahead, the next target for SEI is around $0.25. This was a key level back in February and March before the price dropped to $0.22. If SEI can break above $0.25, it might have a shot at reaching $0.30. And if things really take off, $0.40 could be in the cards. But hey, if the price falls below $0.14, then all bets are off for the bullish outlook.
But get this, the big news that could really send SEI soaring is Canary Capital’s move to register the Canary Staked SEI ETF Trust in Delaware. This trust is the first step toward launching a staked SEI exchange-traded fund in the U.S. It was officially filed on April 23, and while the ETF isn’t tradable yet, it sets the stage for holding and managing SEI assets, including staking operations to earn more yield.
The next step in the process is for Canary Capital to submit a Form S-1 to the U.S. Securities and Exchange Commission. This form will outline the ETF’s structure, staking mechanism, and how rewards will be distributed. If everything gets approved, the staked SEI ETF could become one of the first staking-integrated crypto ETFs in the U.S. This could attract a ton of institutional demand and really boost SEI’s price.
So yeah, things are looking up for SEI, thanks to Canary Capital’s ETF plans. Keep an eye on that $0.25 level and see if SEI can make some moves in the right direction. Who knows, $0.40 might not be so far off after all.
