Sei price is under pressure as traders brace for a $12 million token unlock that could shake short-term sentiment but also set the stage for a rebound.
Summary
- Sei price is down 20% weekly as a $12M token unlock nears on Oct. 15
- Yei Finance’s surge and Giga Upgrade offer bullish catalysts
- Price holds near $0.22, with key support at $0.20 and resistance at $0.27
As traders await the network’s upcoming token unlock event, Sei is currently trading at $0.2243, down 0.3% over the last day. The token has fallen 20% in the last week and 33% over the past month, reflecting growing caution across mid-cap altcoins.
There appears to be less spot activity as the 24-hour trading volume for Sei (SEI) dropped to $177.86 million, a 13.3% dip from the day before. CoinGlass’s data on derivatives indicates that open interest rose 1% to $130.08 million, while volume decreased 11.8% to $307.06 million.
This combination suggests that traders are opening new positions but at a slower pace, likely hedging or shorting ahead of the unlock rather than entering new longs.
Sei token unlock pressure mounts
On Oct. 15, 55.56 million SEI, worth around $12.54 million, will be unlocked as per Tokenomist data. This represents about 1.15% of the circulating supply. Although the percentage is small, unlock events often cause temporary price pressure, especially when market sentiment is already fragile.
Traders usually de-risk or short the asset ahead of time in anticipation of increased supply, which causes brief selloffs. If the new tokens are distributed to early investors or contributors, selling pressure could increase over the coming days before stabilizing.
Despite the near-term headwinds, Sei’s ecosystem remains active. The launch of Yei Finance’s governance token, CLO, on Oct. 14 added a fresh narrative boost. Yei Finance currently holds 47% of the network’s total value locked.
Its upcoming Q4 upgrades, featuring isolated risk pools and improved oracle feeds, may further anchor Sei’s decentralized finance strength, driving protocol demand and network activity.
In parallel, Sei’s Giga Upgrade, expected later this year, continues to attract developer attention. The upgrade is testing speeds of up to 200,000 transactions per second with sub-400ms finality, a potential game-changer for trading, gaming, and RWA applications. Any early mainnet previews or successful test results could trigger renewed bullish interest.
Sei price technical analysis
Sei’s chart presents a cautious image. With the 50-day SMA close to $0.2904 and the 10-day EMA at $0.2429 serving as overhead resistance, the token is currently trading below all of the major moving averages.
The relative strength index is close to 35, indicating that the asset is approaching oversold conditions but is not yet in the reversal range, while the momentum and MACD indicators are still in sell territory.
Bollinger Bands point to decreasing volatility, suggesting that once the unlock takes place, there may be a decisive move that involves a relief bounce or additional decline. Key support lies near $0.20, a level tested several times over the past week, while resistance forms around $0.27.
A bounce back toward $0.26–$0.28 might develop if Sei can absorb the unlock without severe drawdowns. If not, the price might retest the $0.19 range before gaining stability due to prolonged weakness.
