- SEI Spot Average Order Size showed heavy whale dominance through June.
- Positive Net Inflows suggest profit-taking pressure could pull SEI toward $0.29 in the near term.
Sei [SEI] surged nearly 70% from the 22nd to the 25th of June, breaking past its 5-month high at $0.336.
On the 25th of June, the altcoin closed at $0.2803 after hitting an intraday high of $0.3341. However, the rally began losing steam on the 26th, with SEI trading at $0.2762, down 10.41% over 24 hours, at press time.
This reversal comes amid a fascinating shift in whale behavior and market positioning.
Whales led the charge — but where are they now?
Spot Average Order Size, tracked via CryptoQuant, showed whale dominance throughout June. That is a signal of heavy accumulation.
Source: CryptoQuant
However, as prices started to break out over the past day, whales reduced their activity and calmed down.
This implies that whale activity pushed prices higher, and they are yet to reenter the market following the breakout.
SEI’s Open Interest hits ATH!
Futures market activity exploded.
According to Alphractal, SEI’s Open Interest soared by 48.3% to $243.5 million on the 25th of June, an all-time high.
Source: Alphractal
This surge and a 155% jump in Exchange Volume ($436.4 million) indicate aggressive capital deployment.
Such movements on SEI are clear signs that Market Makers are already positioning themselves amid a shift in market sentiment. Usually, when the smart money turns bullish and starts to act, it marks the beginning of strong trends.
SEI sentiment hit its highest reading of the year
According to AMBCrypto’s analysis, SEI experienced strong upward momentum amid a shift in market sentiment.
Source: Santiment
Santiment data confirmed that SEI’s Weighted Sentiment climbed to 7.186 on the 25th of June – the highest in over a year.
When positive sentiment hits a yearly high, it reflects growing confidence across all market participants, both whales and retail. With everyone turning bullish, this leaves SEI in a favorable position for a potential rally.
Therefore, if whales can hold their positions while sentiment holds bullish, we could see SEI rally to $0.35. However, this upsurge is at risk because of increased profit-taking behavior.
Profit-taking kicks in
Source: DefiLlama
SEI broke above $0.30 for the first time since January. This level has now become a magnet for profit realization.
Traders who held underwater bags since March found themselves in the green, and many appear to be cashing out.
As such, the altcoin’s Exchange Net Inflows have held positive for the last three days.
Thus, if this profit-taking behavior continues, the altcoin will dip below $0.3 and find support around $0.29.
