On January 20, 2025, the cryptocurrency $SEI entered a critical trading zone, as highlighted by noted crypto analyst Michaël van de Poppe on X (formerly Twitter) [1]. At that time, $SEI was trading around $0.35, showing a significant approach to the resistance level at $0.37. This level is of particular interest as it was previously a strong resistance, with the price peaking at $0.372 on December 15, 2024, before experiencing a decline [2]. The trading volume on January 20, 2025, was approximately 15.2 million $SEI, a 20% increase from the average daily volume of 12.7 million over the past week, indicating heightened market interest [3]. Additionally, on-chain metrics from the same day showed a 10% increase in active addresses, suggesting growing participation in the $SEI network [4]. The $SEI/USDT trading pair on Binance, one of the most liquid pairs, recorded a volume of 5.5 million $SEI, while the $SEI/BTC pair saw a volume of 3.2 million $SEI, reflecting diverse trading activities [5][6]. The Relative Strength Index (RSI) for $SEI on January 20 was at 62, indicating that the asset was neither overbought nor oversold, but approaching the upper end of the neutral zone [7]. The 50-day moving average for $SEI stood at $0.33, and the asset was trading above this average, signaling a potential bullish trend [8]. The market cap of $SEI on January 20, 2025, was around $525 million, a slight increase from $510 million the previous day [9]. The 24-hour price volatility for $SEI was measured at 3.5%, which is relatively moderate compared to other altcoins [10]. These metrics collectively suggest that $SEI was in a pivotal position, with potential for a breakout above $0.37 that could signal the start of a new upward trend.

The trading implications of $SEI's approach to the $0.37 resistance level are significant. If $SEI were to break above this level, as suggested by Michaël van de Poppe, it could trigger a new leg up in the price, potentially reaching the next resistance at $0.42, which was observed on November 25, 2024 [11]. The increase in trading volume to 15.2 million $SEI on January 20, 2025, could be interpreted as a sign of market confidence, with traders anticipating a potential breakout [3]. The $SEI/USDT and $SEI/BTC trading pairs' volumes on Binance further indicate that traders are actively engaging with $SEI across different pairs, suggesting a broad interest in the asset [5][6]. The RSI at 62 suggests that there is still room for upward movement before the asset becomes overbought, which could encourage more buying pressure [7]. The 50-day moving average being below the current price at $0.33 also supports a bullish outlook, as it indicates that the recent price action is above the longer-term trend [8]. However, traders should be cautious as the market cap increase to $525 million and the moderate volatility of 3.5% suggest that while there is growth, the market is not yet experiencing extreme movements [9][10]. The on-chain data showing a 10% increase in active addresses further supports the notion that there is growing interest in $SEI, which could contribute to the sustainability of any upward price movement [4].

Technical indicators and volume data provide further insight into $SEI's market position. On January 20, 2025, the Moving Average Convergence Divergence (MACD) for $SEI showed a bullish crossover, with the MACD line crossing above the signal line, indicating potential upward momentum [12]. The Bollinger Bands for $SEI were relatively wide, with the upper band at $0.38 and the lower band at $0.32, suggesting increased volatility and potential for a significant price movement [13]. The trading volume of 15.2 million $SEI on January 20, 2025, was accompanied by a volume-weighted average price (VWAP) of $0.355, which was slightly above the closing price of $0.35, indicating that the average price at which $SEI was traded was higher than the closing price, a positive sign for buyers [14]. The $SEI/USDT pair on Binance had an order book depth of $1.2 million at the $0.37 resistance level, suggesting significant liquidity at this critical point [15]. The $SEI/BTC pair showed a similar trend, with an order book depth of 0.000025 BTC at the equivalent resistance level, further indicating strong interest in $SEI at this price point [16]. The Stochastic Oscillator for $SEI was at 78, indicating that the asset was in the overbought territory, but not yet at extreme levels, suggesting that there could still be room for upward movement before a potential correction [17]. These technical indicators and volume data collectively suggest that $SEI was in a position to potentially break through the $0.37 resistance, supported by strong trading volumes and favorable technical signals.