According to the latest reports, SEI has experienced a significant breakout, surging over 18% in 24 hours to $0.0563 as of the latest trading session, with the token climbing from a mid-September base near $0.045 to approximately $0.0563. The token has now broken above the $0.05109 resistance level that had previously capped price earlier in the month, closing above the upper boundary of a rising channel. The price movement represents a substantial upgrade from earlier figures showing the token around $0.05579 with a 16.5% daily gain, as reported by CoinMarketCap. The combination of rising price and sharply higher volume suggests the amendment quickly became a significant catalyst for short-term market attention, placing SEI among the market's strongest performers. The 14-period RSI at 82.05 is deep in overbought territory, indicating strong momentum, though a pause or retest would be normal according to technical analysis.
As reported in the latest amendment, Canary Capital has filed Amendment No. 2 to its S-1 registration statement for a staked SEI ETF that introduces more aggressive staking mechanics. The revised filing substantially revises how the fund plans to handle staking, moving to an estimated 90% of assets staked with BitGo Trust Company serving as the sole custodian for the entire position. The ETF will hold spot SEI and is expected to trade on Cboe BZX, though the ticker symbol and sponsor fee remain undisclosed. The amended filing marks a significant shift from earlier drafts that relied on a dual-custody model splitting safekeeping between BitGo and Coinbase Custody, with the new version eliminating Coinbase entirely and naming BitGo Trust Company - a South Dakota-chartered trust - as sole custodian for all assets. That staking component is central to the proposal because it combines price exposure with the possibility of generating network rewards inside the ETF structure, placing the filing within the broader push toward staked crypto ETFs where issuers are testing how proof-of-stake assets can fit into regulated investment vehicles.
According to TradingView chart analysis, SEI has broken out of a rising channel pattern, with resistance levels now sitting at $0.05958 first, then $0.06987 if buyers continue supporting the move. On the downside, $0.05109 serves as the first support level, since an old ceiling and channel top often flip into a floor after a breakout. Below this level, $0.04378 marks the September base and $0.03835 represents the deeper floor. The price has climbed from a flat base near $0.044 and dipped to roughly $0.041 on September 16, before entering the rising channel. A token trading at an RSI near 88 has priced in substantial optimism on both fronts, raising the bar for what the next catalyst must deliver. Traders watching for follow-through will likely track whether SEI holds above its old resistance shelf near $0.05 on any cooldown, with that level flipping from ceiling to floor saying more about the durability of this move than the size of the spike itself.
The latest data shows derivatives markets continue to drive significant activity with Open Interest jumping to $88.84 million per Coinglass, approximately double the $45 million area of mid-September and well above the roughly $60 million high seen earlier in the month. However, the proposed ETF has not yet attracted actual creations due to pending approval and listing requirements. SEI trading volume leans heavily on derivatives, with $259.53 million in futures against $41.99 million in spot, roughly six to one. Coinglass performance data shows SEI up 26.97% over seven days and 17.34% over 30 days, yet it remains 49.16% lower year to date and 82.30% lower across one year, indicating this is a sharp rebound inside a weak longer backdrop. Positioning leans long, with the Binance account ratio at 1.9472, OKX at 1.31, and top traders at 2.9272 by positions. Liquidation data shows mixed results, with $188.92K of shorts and $184.22K of longs wiped out over 24 hours, though the latest four hours tilt toward shorts at $84.56K of $111.95K.
