SEI Surges 16.5% as Staked ETF Amendment Filing Sends Price Toward $0.06

• SEI jumped 16.5% to around $0.057 after Canary Capital filed an S-1 amendment for a staked SEI ETF.
• The proposed fund would hold spot SEI, with about 90% of its holdings expected to be staked and BitGo as custodian.
• SEI reclaimed its 50-day and 200-day averages, while $0.058-$0.060 resistance and $0.050 support remain key levels.

SEI jumped to about $0.057 after Canary Capital filed an S-1 amendment for a staked SEI ETF. The filing covers a fund holding spot SEI, with about 90% of its holdings expected to be staked. Meanwhile, analyst Michael van de Poppe pointed to months of divergence and said SEI could reach $0.10.

Canary Files S-1 Amendment for Staked SEI ETF

Canary Capital filed Amendment No. 2 to its S-1 with the U.S. Securities and Exchange Commission. The filing covers a Staked SEI ETF holding spot SEI. According to the provided filing details, about 90% of the fund will be staked. 

BitGo will serve as the fund’s sole custodian for the holdings. CoinGecko data placed SEI at $0.05579 after the filing news. The token had gained 16.5% at that point, while trading activity also increased sharply.

That price move came after a long period of weakness. SEI fell from a May peak near $0.077 and later traded below $0.050.

SEI Breaks Above Key Moving Averages

SEI rose above its 50-day and 200-day moving averages. The averages sit near $0.045 and $0.046, respectively. Before the latest rise, SEI formed a base around $0.038-$0.040 during July and early August. Since mid-August, the token mainly traded between $0.043 and $0.050.

Source: Santiment

However, the latest spike pushed price toward resistance between $0.058 and $0.060. The next resistance level is around $0.063. Support has emerged near $0.050, followed by the $0.046-$0.045 area. A deeper decline could bring the $0.040 region back into focus.

Van de Poppe Tracks Divergence as Price Rises

Michael van de Poppe said SEI had been accumulating within its current ranges. He also pointed to a divergence that had developed over several months. According to the analyst, that setup could lead to a move toward $0.10. His comments came as SEI traded near its breakout area.

Source: Michael van de Poppe

The chart also shows substantially higher volume during the recent price surge. However, the sharp move could bring profit-taking and short-term volatility. A sustained move above $0.060 could place $0.063-$0.068 levels on the chart. However, losing $0.050 could expose the moving averages as the next support area.